Everyone has that one big payment a month that if it was lower, bills would be a little bit easier to pay. For me it was my car payment. I bought my car in 2009, it is my first car and it was brand new. It is a 2009 Chevy Cobolt and I fell in love with it as soon as I had seen it. My payments started at 350 a month which was more than do-able. In the months following I paid my payments on time; sometimes I paid more than was expected, just because I was able.
Soon I lost my job due to various different reasons, but I was still able to make my monthly payments on time and the same amount. Luckily that was my only bill at the time, along with car insurance. Then I moved out of my parents and took on a slew of new bills I never had before. Again for various reasons my hours at work got dropped. It began to be more about which bill could wait until next week. I was still paying my car payments every month, but now it was slightly less than normal. Each time I sent in a payment that was lower than it was supposed to be I sent in a note explaining the situation of my job and everything depending on the clients I had seen each week.
After several months of struggling, I began to get calls about how far behind I was. My dad was beginning to get upset and nervous about it. That all added more stress than I needed. I was about 3 or 4 months behind on my payments despite everything I was trying, including looking for a new job. I decided on my day off to drive to the institution that my car loan is through and spoke to the loan officer. She was more tan friendly. I explained everything to her and she understood. She told me that because I continued to make payments, even if they were lower was a good thing to do. They would rather lower payments as opposed to no payments. That along with me sending in note explaining the reason for the lower payments came off good on my end. It showed I wanted to pay but was unable due to my work situation.
Because of all of that the loan officer and I talked about a new plan of action. She was able to lower my payments to 288 a month, a payment I am able to make on a monthly basis. I could even make higher payments if I am able. Luckily because of the things I did prior to meeting with the loan officer, the back payments will not show up on my credit score, something I was very worried about. I am happy I was able to speak with her and work out something that both parties would be happy with. I suggest trying to talk to who-ever the debt is owed and see if there was a way to come up with a new plan to help pay the bill off. It was the best thing that I did. Always always make a payment no matter how small. Paying something is always better than not paying at all.