Track Your Credit Use
It is easy to rack up credit card debt and very hard to pay it down. Sometimes unforeseen circumstances, like a job loss or medical emergency, drain a family’s financial reserves making it hard to keep up with the bills. In desperation, families may use their available credit to pay the bills. Wisely managing credit and starting a savings program (even if small) can be helpful for keeping credit balances from getting unmanageable. The Get Tracking Spending/Credit Tracker linked below may help you from charging more than you intend to.
Dealing With Debt
If you are having trouble paying your debt when it is due, you may want to check the information at the FTC’s Dealing With Debt site.
It is always best to address inability to pay on time as soon as you are aware of the problem. Waiting and avoiding your creditors only makes the situation worse. If you are not sure how to talk with your creditors, you may find the information in the following publication helpful.