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Detox your finances
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Dealing with missed payments

 

 - Dealing with missed payments
© Getty Images/Jupiterimages
I’ve missed several payments on my mortgage already, what should I do?

“There is no such thing as an unsolvable debt problem. It mightn't be easy or quick, but there's always a route,” says Jenny Keefe, senior writer at moneysavingexpert.com. “Yet by its very nature, debts are urgent, they compound rapidly over time, and can quickly spiral into trouble. The earlier you take them on, the easier they are to deal with.”

So if you find yourself unable to meet a repayment, the earlier you can let the company you owe know, the better. “It's always better to talk to them, though of course preventative measures such as reducing interest, expenditure, and being a smart consumer are the best form of action.” It’s in your lender’s interest to help you resolve the issue so being open with them will pay off in the long term.




  
  

Women in Focus Editor
03/25/2010
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Article Plan Detox your finances
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