Would it be probable that we could arrange interest only payments to creditors for four months?

Unavoidable surgery on my husbands ankles will prevent him from working his job in construction for at least 12 weeks. During that time we have no way of replacing his income, except in small part due to the generosity of our sons.

We have four large creditors, to whom we have always made timely payments of at least the minimum due and sometimes more. We would like to propose to them that we make interest only payments to them for four months (beginning the month my husband has his surgery and continuing until he returns to work full time). We would then resume regular payments according to our original agreement.

In addition, if it would help make the proposal more agreeable, we may be able to pre-pay those interest only payments for the entire four month period. Would this be advisable?

In your opinion, would a creditor be likely to accept this proposal?
What is the best way to insure that our account is not accidentally sent to collections if the proposal is accepted?

(FYI: the creditors in question are Wells Fargo, Chase, Capital One, and Green Tree Servicing.)

Thank you very much for your time and your help!

2 Answers

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You may try to convince your creditors. But it fully depends on their discretion whether or not to accept your proposal.

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Well, you'll have to talk with your creditor on this issue. Since you have always made timely payments, so the creditors may accept your proposal. 

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