If times are tough you may be finding it more and more difficult to pay all of your monthly bills. While human beings may be compassionate about your situation, corporate America is not. They could care less about your personal situation. If you haven’t paid your mortgage in months, your bank will shamelessly evict you, even if you have children at home and no place to go. It is for this reason that you should only live within your means, have a savings account (with money in it of course) and stay out of debt (especially credit card debt).
Sometimes though there are circumstances that are beyond or power that occur. For example, there could be a medical emergency that your insurance does not cover (if you even have coverage), leaving you with an additional monthly payment to make. Your employer could also let you go, leaving you with no income.
If you know you will not be able to pay all of your bills you must be proactive about your situation. You cannot just ignore the problem and hope it goes away. Not only will your bills not go away but you will end up paying late fees, getting your services shut off and paying for reactivation fees.
Instead, contact those services you will not be able to pay in time and let them know of your situation. Here are some things you can do in these situations.
- If it’s a cell phone company, ask them what services you can eliminate or plan you can change to in order to lower your bill.
- If it’s a credit card company inquire about having them reduce your interest rate. you’ll stand a better chance of success if you have a steady payment history and better offers from competing credit card companies.
- If it’s a utility bill, see if they can move your due date back a week or two until your next paycheck.
The important thing to remember here is to act early so you can be in control of the situation.