Advice on dealing with debt during crisis


CHATTANOOGA (WDEF) – People suffering financial setbacks can get help before going drastically into debt.

Mortgage and financial experts suggest having your credit service explain every possible option you can take to relieve your current payments.

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Many vehicle and mortgage lenders may offer delayed or deferred payments.

Your past financial standing may not effect your chance to qualify for financial relief.

Mortgage loan originator Wendy Thompson tells us “I think that what we’re dealing with at a national level that probably your past payment history and even your current credit standing are not going to come into play as much as if you are unable to pay your current liabilities due to a loss of a job or a reduction in income. And just call and talk to them and find out what potential options that you have.”

These suggestions are recommended for student loans as well.