People who are under debt are always into a situation that they would experience hardships on the terms that they have signed when they made a loan agreement to a lending company. This happens especially when you do not have a secure and reliable source of income. In the long run, if you will not be able to comply with the agreement that you had, you can go for a wholesale loan modification. A lot of lenders would not want this to occur but it would be one of the things that the debtor can do in times when paying is really difficult to do.
If you have some problems regarding the said modification, you can hire or ask some advice from a lawyer. It is important that you will understand the whole concept of the modification for you to know what you have to do and for you to make the right decision out of it. Your lawyer can surely give you a clear picture of your current situation.