Can't Pay Credit Bills This Month? Do This!

Two-thirds of Americans are finding it harder to meet their monthly financial responsibilities.

Late payments affect credit ratings and increase credit card debt, worsening financial issues.

Bankrate reports a $5,221 average American credit card load. As debtors fall behind on payments, many credit card bills may become overdue.

The first step is to contact your credit card company and explain the situation.

If you can't make your minimum payment, notify your credit card company. If unaware, the company may act.

Informing your credit card provider can prevent problems and keep you in control. Credit card companies may provide affordable payment plans.

Second, you can seek assistance from a credit counsellor or enrol in a debt management programme.

Non-profit credit counselling agencies or debt management programmes can help with budgeting and credit card debt.

Thirdly, move your debt to a credit card with an introductory 0% interest rate

If your credit score is solid and you haven't missed any payments, apply for a 0% introductory APR credit card and transfer your balances.