All of us have those times when money is tight. Unexpected expenses or loss of a job seems to happen to everyone. Sometimes we are in the position of deciding which bills to pay and which 
ones to let go a bit longer.
If you find that you need to delay paying your credit card bills, call the credit card company. Many creditors are willing to help you when you have an emergency. You don’t even need to be behind on payments to ask for help.
If you ignore the problem the card company may raise your interest rates, raise your minimum payments or charge you a late fee. You may even damage your credit score or lose your credit card.
Here are some tips from the Consumer financial Protection Bureau that can help if you find yourself unable to pay even the minimum on a credit card balance.
- Look at your current income and expenses. Try to find ways to cut costs. If you can’t find enough “extra” money to pay the minimum balance, decide what you can afford to pay.
- Call the credit card company and explain the circumstances, tell them what you can afford to pay, and let them know when you expect to resume the normal payments.
- You may want to consider credit counseling. There are some non-profit credit counseling organizations that can help you learn more about handling money.
If you do choose to use credit counseling, be sure to ask if there is a charge for counseling. Find out the cost and what services you will get from the company. Make sure the counselor takes the time to learn about your financial situation and helps you learn to make better choices.
Remember that it is best to face the problem instead of just hoping that things will get better. A phone call and discussion with the credit card company will take some of the stress out of this situation.
