Angela's car payment is due January 31. This bill is always paid automatically from her checking account. It is January 30 and Angela realizes that she does not have enough money in her checking account to cover the payment. What is Angela's best option for handling the payment?
Calling the company that holds the car loan and asking them about other repayment options is the best tactic. This allows the loan holder to negotiate terms that would be acceptable to both sides, as well as showing that Angela is trying to make a good-faith effort to repay what she can. While it may increase the overall length of time that her payments require, it also shows that she is not going to outright default on the payments.
