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Old 10-02-2009, 10:09 AM
NorthDrum NorthDrum is offline
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Posts: 302
Default Re: Guide for unemployed people

Guide regarding Loans and Liabilities for those unemployed:

Approach your bank or mortgage lender and discuss your circumstances. Dont let things accumulate and dont be embarrased about it.

You will generally find that they will try to be as flexible as possible by giving you time (moratoriums) to get your feet back on the ground. Its vitally important that people understand and consider this when they are unemployed. It can take huge pressure off somebody recently let go.

I have discussed this with a couple of Bank managers (one who is debt collecting) and Mortgage Consultants. All feel that the banks will try their best to facilitate (within reason) their clients drop in income.