I can't pay this month's installment... what should I do? | Ask Banky

Editor-in-Chief Mohamed Salah

ع

Editor-in-Chief Mohamed Salah

I can't pay this month's installment... what should I do?

Asked by Banky team 2 months ago 2 views
Banky team Reviewed editorial answer

If you feel you won't be able to make the payment, contact the bank before the due date and don't wait until you're late.

Steps

  1. Ask about available solutions for your situation, such as rescheduling if the bank offers it, and find out the new payment amount and the total you'll pay before agreeing.

  2. A lower payment doesn't always mean a lower cost; if the loan term is extended, you might end up paying more.

Source

Discussion

Join the discussion

Sign in to add your comment or reply to other readers.