What To Do When You Can’t Pay Your Bills
Most companies will work with you to get you back on track
Are those bills coming down on you harder than any rainstorm you’ve ever experienced in all of your adult years? Collection calls coming in left and right would make even the sanest person go bonkers. But, don’t be discouraged, you’re certainly not the only one. In fact millions of people worldwide fall behind on their bills each year, dodging bill collectors, resulting in late fees and termination of services. But, there’s a solution to this: Simply pick up the phone! You’ll be surprise by how many businesses that will work with you.
First thing’s first: Prioritize your bills from most important to the least and then begin calling to see who will be the most flexible. If you have a good history of paying on time then they will be more than willing to help you out.
With credit card companies in particular, if you have been a long-term customer who’s always made timely payments, they’ll try to come up with a plan out of fear of losing you to other competitors vying for your business.
For all the students, in what feels like a lifelong tumultuous relationship with Sallie Mae or with any other school loan company, you should inquire about ways to hold off on your payments. Most loan companies offer deferments. It’s just a matter of calling up to see if you’re eligible.
It’s also easy to get behind on those phone and energy bills. However, most energy companies are able to set up payment arrangement plans to help you get back in good standings.
The moral of the story here: It doesn’t hurt to ask!