Your credit card is full? Take action today
You definitely didn’t mean to. It didn’t seem like a lot at the time, but several months later when you look at your credit card statement you realize you’re in trouble and there doesn’t seem to be a way out. Alway declare the truth about your financial situation. The thought of not paying your bills has probably crossed your mind. Before you stop thinking about this, take a minute and see what happens if you do not pay your credit card bill and a better way to manage this debt.
If you don’t want to receive calls from the creditors, being reported to the credit bureau or legal action taken agains you, follow my advice: pay your credit card bills. You don’t want creditors calling you at home and work. You’ll feell like being harassed even if they follow all legal guidelines. Next step, you will be reported to the credit bureau and a negative note will be made against you. Not good. The final resort your creditors will take is filing legal action against you such as garnishing your wages or putting liens against you. Even if it is a pain in the a**, they’ll do it.
Consider credit counseling, debt consolidation, or debt settlement? There are many reputable counseling agencies that are there to help you choose the best solution for your credit card debt. The first step is to calculate exaclty your financial situation. If you don’t have a huge amount of credit card debt, they will plan a budget for you and help you get organized so that you can make your payments on time and get the debt paid off.
They will suggest you to consolidate your credit card debts. The agency takes your outstanding debts from your credit cards and either getting you a lower interest rate loan or a new credit card account with a 0% balance transfer fee and lower interest rates. They transfer all of your other accounts to this new account, close the other accounts, and then you only have one payment to make at a lower payment.
If your credit cards are loaded, the counselor will probably suggest you a debt settlement. Again, the agency needs to do this for you. They make an arrangment with the credit card company and settle your credit card account for a much lower payment. Even if you can do it, we recommend that you use the services of a professional.
Don’t consider not paying your credit card bills as an option for a debt relief. I can’t lie to you, the process is emotionnally rough but it’s better than having creditors at your door or legal actions against you.
Leave a Reply