I will be unable to make my credit card payments.
Date: Sat, 07/11/2009 - 21:38
I have good credit but this economy has reduced my income and next month I will not be able to meet my credit card payments. What should I do first?
If your accounts are all current, your best bet would be to talk
If your accounts are all current, your best bet would be to talk to the credit card companies, they can offer various hardship programs that can reduce (and in some cases completely nullify) the interest rate....these programs help you pay off your cards at reduced rates so you will not default, but generally the card will be closed down...BUT if you are in a serious financial strap, then closing out the cards is the best thing you can do for yourself.
