Final answer:
When a borrower cannot pay their full debt, they can make requests to the lender such as a reduction in interest rate, decrease in monthly payment, or forgiveness of part of the debt.
Step-by-step explanation:
If a borrower knows they will never be able to pay their full debt, they can make several requests of the lender. One request is to ask for a reduction of the interest rate. This would lower the overall cost of the loan and make it more manageable for the borrower. Another request is to ask for the monthly payment to be reduced. By lowering the monthly payment, the borrower may be able to make more consistent payments and avoid defaulting on the loan. Lastly, the borrower can ask to be absolved of some of the debt. This would mean that the lender forgives a portion of the outstanding balance, reducing the overall amount the borrower is required to repay.