Whats the difference between debt restructuring and debt consolidation?
• How do I go about trying to restructure or consolidate my debts ? • Is borrowing money from friends or relatives a good idea? • Is it a good idea to contact my creditors if I’m having financial problems? • What types of debt are there and why does it may any difference? • What types of loans do creditors use to extend credit ? • What makes me legally obligated to pay back a loan , and what’s the extent of my liability? • What kind of loan documents do I need to sign if I want to borrow money? • Does it may any difference what kind of property is put up for collateral? • On what basis can a bank turn me down for a loan? • How much interest can a bank charge? • What is a lender required to tell me up front about the terms of a loan ? • Can I change my mind after I sign the paperwork on a loan? • What can a bank do to try to collect a past due debt ? • What is the worst thing that can happen to me on an unpaid debt ? Q: What should I do if I’m over my head in debt? A: A financial crisis
