What to do when cant pay off credit cards?
I payed on time. I spoke to them over the phone they are no help. The APR’s are outrageous 20% 15%. What can you do if you cant pay off the credit cards? The company’s raised the APR’s it gets difficult to pay all of it off. What can I do? And what will I expect?
Tags: Cant, Cards, Credit
Pay off the highest and largest first – by making minimum and 1/2 of that more. Minimum is 45- add 22.50 (150%) do that and you’ll pay it off faster. Then work on the second largest- never accept those rates 15% & 20% rates ever again. You can live without credit – quit smoking! or something that is bad for you. (eating out – junk food)
Well… first, cut up the cards and do not charge anything else to them. This is the very reason why you should never carry a balance on your cards… it’s very easy to get into trouble very quickly. If you know you won’t be able to afford to pay it in full at the end of the month, you should stop using the card until the next billing cycle.
After you cut up the cards, probably the best thing to do would be to seek help from a credit counseling service. They’ll work with you and your credit card company to set up a payment plan you can work with, and many of them are non-profit and do not charge for their services.
Never carry a balance on your credit card, then you don’t have to worry about the rate. Obviously too late for that. So first, stop using the card. Learn to live within your means. Spend less than you earn, and slowly pay down your balance. Get a part time job to help pay this down.
I heard a lot of people have problems with credit cards
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