 >> Main Page >> Previous Page Workout Loans Can Save You From BankruptcyMore than one million people in the U.S. have filed for bankruptcy every year since 1990. If you're experiencing financial difficulties--can't make a loan payment, creditors are calling about late or missed payments--we may be able to help you get back on the road to financial well-being without filing for bankruptcy. Progressions may give you a second chance to get your financial situation on the right track with workout loans. Workout loans can get you off of a delinquency list and give you the opportunity to pay a manageable monthly payment, as opposed to the payment that's automatically computed based on the amount of the loan or debt. By working with you on an individual basis, we'll help you assess your finances, figure out how much you can qualify for, comfortably pay, and set up a payment plan you can afford. The interest rate and length of a workout loan depends on your situation. Offering alternatives to bankruptcy, such as workout loans, allows you to avoid the emotional and credit scars caused by bankruptcy. For 10 years bankruptcy remains on your credit report and affects your qualifications for future credit and possibly future jobs. Flexibility is important to us. Any way we can help you help yourself benefits the entire credit union. A credit union's loss affects all members because credit unions are member-owned cooperatives. Don't wait until your financial troubles are out of control; start by talking to someone at Progressions now. We can set up a workout loan for you or refer you to someone who can help you get out of financial trouble. |
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