What is the legal aspect on making payments when you can't pay in full?

Answer by  dr84bhl (2789)

Get in touch with the company and see if they can sort a pay structure for you. Do not bury your head in the sand and ignore the problem. When you cannot pay anything you declare bankruptcy and the debt will be dumped.

Answer by  maggie711 (285)

Write the debtor a letter, explain your circumstances, and show a repayment schedule. Enclose a check in the amount you can afford to pay on a monthly basis. Make that payment faithfully. You are showing good faith; if you stay on schedule there isn't much else to be done.

Answer by  Digpalsoni (27)

Your all payment will be cancelled or bank may be recover our amount from your property or any thing on which you had been taken the loan .its depends upon you otherwise your whole amount will be forfeited and you will be penalized.

Answer by  Kris (797)

It depends on what you are paying late for, and where you live. You may need to find state-specific information. See if nolo.com's Nolopedia can help you, or possibly try findlaw.com. If it is rent related, learn the landlord-tenant laws for your state.

Answer by  Gabriel (2146)

You entered into a contract on how you will pay your bills when you agreed to service. If your creditor wants to be strict, they can require full payment each month. Most creditors are willing to work with you, because they know they'll get more money that way.