Can There Be A Negotiation Between Creditor And Debtor?
- Reduce monthly payments
- Refinancing a loan
- Deferring a payment for a short time
- Reducing or dropping late charges
- Paying interest only on the loan until you can resume monthly payments
- Voluntarily surrender or give back an item purchased on credit.
The information on this page is meant to provide a general overview of the law. The laws in your state and/or city may deviate significantly from those described here. If you have specific questions related to your situation you should speak with a local attorney.
Additional Creditors Rights Articles
- Can A Creditor Take Legal Action?
- What exactly is repossession?
- Can a creditor garnish a debtor's wages?