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peace77 -> RE: Does anyone know where I can find... (8/19/2008 11:02:39 PM)
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Don't just send in less than the minimum payment with a budget or form letter.
The company may tack on a late payment fee (usually $35 - $50).
Is there any way that you can increase your income (such as part time or occasional work) or
decrease your expenses?
Do you have anything that you could sell that is not being used or is outgrown?
Do you normally get a large income tax refund each year? If so, you could reduce your tax withholding to take home more in each paycheck.
Do you have a landline phone with extra services that could be cut? Do you have a cell phone that could be cut out or switched to a cheaper plan?
Can you cut any extras such as cable/satellite TV or newspaper subscription?
Are you currently contributing to a retirement plan? If so, reduce or temporarily stop contributions until the debt is under control.
Is it a one time crunch or an ongoing problem?
If it is a one time crunch, could you "find" the funds for the payment by eating out of the cupboard and freezer and not going to the store?
If the above suggestions don't help and this is an ongoing problem, contact the the credit card company. They often have programs for card holders who are having difficulties. They can change the payment due date, interest rate and are sometimes willing to change the minimum amount due. You have to ask nicely
and be willing to accept the new terms. Be sure to get the changes in writing.
You may wish to consult a Crown budget coach or pm me and I can look at your budget, if you like.
I've been able to help others that were told it wasn't possible to work out a budget.
Peace,
Anne
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