Cannot Pay After Student Loan Consolidation

A lot of people began to consolidate their student loans after graduation due to the global economic crisis last year. They had benefited from debt consolidation offers students a grace period of 6 months to 12 months. As we face difficulties in finding a job, use the grace period for late payment. But time passes quickly. Based on the current economic situation, finding a job is difficult. For those who have already consolidated their student loans, but are still struggling to make the monthly payment after the grace period, so that you can do to help?

Don't be afraid if you really cannot make a payment because of unemployment. The suggestion here is looking for leniency. Would be at least a temporary solution for you will be able to suspend time of your monthly loan. This quick solution is useful if you are not qualified for a determent, but you are qualified according to financial problems.

You can contact your lender and ask for clemency. These efforts are certainly important because it can defer payment for several months and has no negative effect for much of your credit score. The time can make a big difference when given time to earn money by working part time or freelance work.

In summary, the application of patience is a temporary solution, which gives a break to manage cash flow.