What can i do when i cant pay my credit card

Question

credic card

Answer 1

~~You want to protect your credit. Contact the credit card company and let them know the situation you are in. You can't just not pay it without severe repercussions, so second thing is to let you know how you are planning to try and catch up and stay current (taking a second job, making a consolidation loan, whatever you are going to have to do). They hopefully will work with you. Keeping in constant contact is the most important first move, it may save you from getting a bad rating from them. Don't hesitate to ask for a  lower interest rate, maybe accepting a lower balance by writing some of the interest off, etc. Never hurts to try and help yourself out. I wish you the best of luck!~~

Answer 2

You will have joined an ever-burgeoining club that is fast becoming fashionable.  Welcome aboard.

Answer 3

Do pay them any way you can.  Otherwise, the worst that will honestly likely happen is your accounts will go into charge-offs and collections and your credit rating will go down, down - preventing you from getting any more credit and giving you unfavorable deals on the credit you do get.  You may be able to repair this later, though it will be awhile.

Answer 4

Call them and tell them your unable to pay and ask for lower payments.  

Answer 5

Call them and explain what is going on.  Just see what they suggest.  Otherwise, the late fees and eventually overlimit fees will go sky high.  As a rule, try to pay something until you get in touch with them.  Either way, your credit is bound to be affected negatively.

Answer 6

either borrow some more money or get another job or file for bankruptcy.  If you have to file for bankruptcy then you can let the card people just harrass you until you get enough money to pay the lawyer to get rid of debt.  this only makes sense if you owe a whole lot more than it will cost to hire the lawyer.

Answer 7

Get a 2nd job or sell something. You have to pay your credit cards!

Call them if you're having an issue - never ever ignore a bill. This will be a problem on your credit for years to come.

There are also FREE credit counseling agencies that can be of help in getting your budget in shape..

Answer 8

Get a second job

Answer 9

Call the Credit Card company immediately! Don't wait until the payment is already past due!

Explain your situation, see what they can do to work with you. If you can not borrow money from someone to pay the minimum this month, then you will have to send them SOME money, at least. You are still probably going to get a hefty fee since you will not be paying the minimum, but at least it won't hurt your credit. Believe me, good credit is essential these days!

If you have cable, shut it off. If you have a home phone, shut it off. If you go out to eat a lot, stop. Get serious about your finances. Lose all the "extras" that you may have.

Now, it's time to learn from this. Why can't you afford your payment? (I promise, I'm not harping you, I've also been in this situation, so I understand!) You have overspent beyond your means, plain and simple.

When I was in this situation, I worked out a game plan. I took all the bills that I owed, including credit cards, car loans, etc. and wrote down how much I owed, what the minimum payments were, etc.

I put them in order from the lowest amount to the highest amount. The one at the top I payed and extra $15 to $20 on EVERY MONTH until it was payed off. Then I took the amount of the payment, plus the $15 - $20 the NEXT month and put that towards the next bill in line. It's harder to do than you think, because an extra $15 - $20 can be a whole lot when you have nothing left over in your account, but believe me, it works! (Just add the minimum payments up for each month and see how much "extra" money you would have if you didn't acquire all these bills! You'll be surprised, I'm sure!)

Take the steps now, and be diligent in making these payments on time. I assure you if you "attack" these payments, you will be on your way to more financial freedom.

(Oh, and don't forget to cut up your cards! Seriously! Keep ONE if you must, but make sure it's the one with the lowest credit line, and DON'T MAX IT OUT!) Maxing out your credit card is also a bad thing for your credit too!

Good luck, take care, and buyer beware!

Answer 10

Call the credit card company and tell them your situation. Tell them you are having financial difficulties. Let them know that you can only pay 20.00 a month at the present time. That way you are still paying them something. The only thing with that is that they will still charge you the interest rate.

Good Luck!

Answer 11

dont buy anything? one time visa had problems and i couldnt buy anything for a while. and my bank didnt tell me ANYTHING!!

Answer 12

I don't know how much debt you have but you may want to consider bankruptcy or debt settlement.  I would call your creditors first and see what you can work out.

Answer 13

Can you not borrow from a friend even to pay just the minimum due so you wont have to pay late charges and while you are doing that, consult a credit counsellor or negotiate directly with your creditor.  Tell them your situation and make some suggestions on how soon you can settle your account.

For more information, check this out:  http://www.happygodebtfree.com   and  http://www.legalisticminds.com

Answer 14

You call your card company and ask to have your interest

lowered and explain. That is better than getting turned over

to a collection agency. they would be glad to get some, than

none at all. <}:-{(