Having Trouble Paying Your Bills?

By Nicholas Ulehla

Debt Repayment

If you cannot pay back your credit, then here are four steps you should ask yourself so you can repay your loan.

1) First you should contact your creditor and explain why you could not make the payment.

2) Never tell your creditor that you cannot pay, just tell what you can pay.

3) Keep any promises made and a written copy.

4) Try to work at a debt repayment plan to help reduce debt for a more manageable plan.

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Credit Counseling

If you are having trouble with your credit, you should seek a credit counselor.

-They will discuss actions and suggestions to eliminate credit difficulties.

-National Foundation of Consumer Credit and Consumer Credit Counseling Service(CCCS)

-Both are non-profit counseling services.

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-If a consumer cannot get out credit trouble is to file for bankruptcy.

-It is a legal process of reducing or eliminating an amount owed.

-It should be the final step if everything else failed.