The number of people who cannot pay their credit card bills each month is quite large. This means that you have nothing to be ashamed of if the bill has come due and you find that you can’t afford to pay it. If this is the first time that this has happened, it is understandable that you might feel panicked. Here are five suggestions that you can use if your credit card bill has come due and you can’t pay for it:
-The first thing you should do if you are 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 quick cash.
-Examine your current monthly expenses and ask yourself if there is anything that you can cut back on or do without for the next month or so. Take that money and put it toward your credit card bill! Many people find that by buying generic brand groceries and personal products, they have more than enough money to pay that month’s credit card bill.
-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.
-Do you have any good friends that you might be able to ask for a loan? It might not go over well to ask one friend for the total sum of your bill, but you might consider asking a few friends for smaller amounts that you can later combine and use for bill paying. Of course, if you go this route, you must make paying back your friends your first 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!