As I am financially very weak and my repaying capacity is poor, how can i negotiate with banks to either waive off or reduce the debts.
2007-02-11 19:27:40 · 5 answers · asked by KSR 1 in Business & Finance ➔ Personal Finance
I doubt that you'll be able to have your debts waived or reduced. However, you may be able to have them extend your payments over a longer period of time so that your weekly or monthly payments are smaller.
Good luck!
2007-02-11 19:34:53 · answer #1 · answered by ms_quiltsalot 2 · 0⤊ 0⤋
Why should they waive or reduce your debts? They loaned you the money in good faith and you should pay them back.
Contact the banks and make arrangements to pay what you can for as long as it takes to pay them back.
If you have to, get a 2nd or 3rd job to get more income to pay what you owe. Change your lifestyle and cut out all but the necessities.
2007-02-12 11:55:18 · answer #2 · answered by parsonsel 6 · 0⤊ 0⤋
check out daveramsey.com. I have used his system to pay off debt and it works
2007-02-12 09:14:54 · answer #3 · answered by Anonymous · 0⤊ 0⤋
That would like asking a prostitute for a night of pleasure for FREE.
2007-02-12 14:52:13 · answer #4 · answered by Anonymous · 0⤊ 1⤋
If you are in the US, check out
www.hummingbirdcreditcounseling.org
They are non-profit and don't sell anything.
2007-02-12 13:33:08 · answer #5 · answered by jimmyjohn 4 · 0⤊ 0⤋