Life just hits us hard and too fast sometimes and we realize we aren’t going to be on time with a payment. What to do? Well, the worse thing is to say and do nothing. Now, if the payment is going to be past the due date, then it would be wise to call the credit up and ask for an extension to give you time to make the payment. They may agree or they may not. They may still give you a late fee or they may not. They may still report the late to the credit bureaus or… they may not. It doesn’t hurt to ask and it may even save a late fee or a report of late to the credit bureaus. The point is, you must ask to be able to receive. Most creditors love the fact that you are keeping them in the loop and talking with them.

Some of us are going to get into real problems because of a loss of job or medical problems or other reasons and the money just won’t be there. Be sure to contact the creditor and explain the situation. Most big companies have a way to accommodate a serious financial difficulty and to make payment arrangements other than what you had before. But you have to call to get help.

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