If you’re heading for trouble when it comes to credit card debt, your first step should be to call your creditors right away. Explain why you are having difficulty keeping up with payments.
Some creditors will agree to waive a late fee if you are not usually chronically late.
If your problem is more of a long-term issue, seek the services of a certified credit counselor. You can find one by conducting a search on the National Foundation for Credit Counseling website. A certified credit counselor can help you devise a budget to assist you with managing your money more effectively. Credit counseling organizations also offer support through workshops and educational materials.
Before signing up with an agency, check with the Better Business Bureau and your state’s Attorney General for consumer complaints to see what the complaints were (if any) and how the complaints were resolved.
Sheiresa Ngo is the money editor for Black Enterprise as well as a certified credit counselor.