I Can’t Pay My Credit Card Bill, What Should I Do Now?
Most people have to deal with the inability to pay their credit card bills at least once or twice in their lives. This should tell you that not being able to pay your credit card bill is nothing to be ashamed of. Of course, if this is the first time you’ve encountered this kind of distress, it can be quite frightening. Here are some recommendations if the bill is due and you don’t know how you’re going to pay it:
-The first thing you should do if you’re truly strapped for money and have no way of paying your credit card bill is to call the credit company and ask if you might be allowed to pay a lower payment for that month. If your account has been in good standing up until this point, most creditors will be happy to work with you. If, however, your repayment has been hit and miss, you might have to figure out how to come up with some swift cash.
-Look at your current expenses and see if there’s something you can do without for the next few weeks so that you can put that money toward your credit card bill instead. For example, buying generic brands of food and household products can be a great way to save some extra pounds.
-Can you sell anything? A lot of people have found rummage sales and eBay to be fantastic ways of finding some cash when the credit card bill comes due. Take a look around you. There are probably a few things lying around the house that you can list on an auction site or put out for sale. You may have to be creative, but it can be done.
-Might any of your friends be able to loan you money? While asking one friend for the entire sum of your bill might not go over well, asking a few friends for smaller amounts might do the trick. Just remember that, if you take this option, paying back your friends will have to be your number one priority!
-Decide upon a budget for your home. If money has gotten to tight that you can’t afford to pay your credit card bill, it is time to take a hard look at your spending habits. There are most likely a few places from which you can squeeze funds or tighten your belt. Your credit rating is always more important than eating out four nights a week!
These are just five ideas to use when your credit card bill is due and you discover that you can’t pay it. You’ll probably be able to think of many more ways to come up with money and rescue your credit score!