Remember, you are not a victim and the lender is not the enemy." stated Consumer finance expert, Erica Sandberg, host of the weekly video podcast Making It in San Francisco that airs on KRON-4, when she spoke with Investopedia recently. "Remember that when you borrowed the money, you agreed to repay it as per the contract. A creditor is not required to give you a break, even if you have a great reason for needing it. That said, all a creditor wants is to be repaid. When an account goes into collections, they lose money. Try to work with a creditor before the debt goes bad. Keep in mind this originated as an agreement between two parties, the lender and you. They upheld their end of the bargain. They loaned you the money. When you don't uphold your end, you have failed to live up to the agreement you struck with the lender. Yes, things happen beyond your control that are not your fault. Nor are they the fault of the lender. To read more click here.