“My outgo exceeds my income.”
This isn’t too surprising, after all, many of our clients respond, “No kidding! If I was making enough money, I wouldn’t be in this position!”
We’re assuming here that you had a legitimate hardship, and that you normally pay your bills on time, as promised. We’ll also assume that you originally had enough money to make your payments, and that you didn’t commit fraud to obtain your loan.
So, how much of a shortfall do you have each month? Is it just a little, or is it a lot? If the expenses are quite a bit higher than your income, the obvious question is, “Can anything be cut?” Or, “How can I quickly increase my income?”