GET IN FRONT OF A BAD FINANCIAL SITUATION
- johnathanmcquoid
- Jan 18
- 2 min read
Financial difficulties can happen to anyone — job loss, illness, relationship breakdown, or unexpected expenses. What matters most is how quickly you respond when money gets tight.
Here’s why being proactive with your creditors can save your credit, your assets, and your future 👇
1️⃣ Never go silent on your creditors
Avoiding calls or ignoring statements makes things worse.
✔️ silence looks like you’re abandoning the debt
✔️ creditors assume the worst when they can’t reach you
✔️ communication buys you time and options
Being upfront is always better than disappearing.
2️⃣ Creditors prefer helping you over taking action against you
Most lenders don’t want to foreclose or send accounts to collections.
✔️ they want stability
✔️ they prefer repayment plans
✔️ they often offer temporary relief
Early communication shows responsibility and builds goodwill.
3️⃣ Ask for short-term relief before you fall behind
Call as soon as you know trouble is coming.
✔️ request interest-only payments
✔️ ask for deferred payments
✔️ negotiate temporary reductions
These options disappear once you’re already months behind.
4️⃣ Ignoring the problem leads to long-term damage
Falling behind without communication harms more than your credit score.
✔️ collection calls escalate
✔️ legal notices may follow
✔️ options become limited
By the time collections or seizure notices arrive, lenders can’t usually help.
5️⃣ Always contact creditors BEFORE you miss payments
Early honesty gives you the best chance at a solution.
✔️ lenders appreciate transparency
✔️ repayment options stay open
✔️ major consequences can be avoided
A five-minute phone call can prevent years of credit damage.
💬 Final Thought
Financial stress is hard, but disappearing from creditors only makes things worse. Being proactive, honest, and early gives you leverage, preserves your credit, and protects your assets.
If you want help reviewing your debts and planning relief options, The Frontline Mortgage Group can walk you through the best steps to stabilize your situation before it spirals.