Free Debt Management & Bankruptcy Articles

Professional Authors - Professional Articles

Managing Your Credit Card Debt When You Are Unemployed

When people go and apply for credit cards they do it in good faith, not thinking about the possibility that they could suddenly be thrust out onto the street standing in the unemployment line. However, the harsh reality of things today is that we live in a world that has an economy that is tough and unstable and losing your job is a possibility that may have not been so much so a few years ago. If you are afraid that you could lose your job sometime soon, it might be a good idea to prepare for that, if you are already unemployed, some of this advice could still help.

Probably the first thing anyone should do is to try and prepare ahead of time for unemployment. You can do that by saving money as well as trying to get rid of a lot of your credit card debt before you are hit with being unemployed. If it turns out that what you owe is far too much for you to pay off all at once then you might want to consider consolidating all of your credit cards bills into one using a free balance transfer credit card that has a lower interest rate. Remember though these offers are only introductory offers so it's probably a good idea that you try to pay all or at least most of the balance off before the offer expires. After you have done this, your best bet is to cut up all of your other credit cards so you won't be tempted to use them, especially if times get tough.

When you get more credit card offers in the mail you need to get rid of them. Best way to do this is to shred these offers up because they contain personal information usually and by shredding them you can prevent identity theft. Even thought the credit card commercials and mail ads look really good, in reality, you need to look at your personal debt before you get lured into any more credit card traps.

Make sure to get either a debit card, cash card or even a check card. Use these instead of using credit cards. You can use them just as easily as a credit card and they will stop your impulses to over spend when you realize the money is coming directly out of your checking account or savings account.

If you find that you are having serious credit card problems and it beginning to look like you are not going to be able to make your payments, it is vitally important that you get in touch with the credit card companies right away and don't wait around to do it. You need to talk to someone who can tell you if there are ways to freeze or at least reduce your interest rates or if you can have your payments lowered until you get back on your feet. Find any way in which you can lower your payments in order to be able to pay them. This is especially important if you are unemployed. The credit card companies need to know. Some may be very willing to work with you, while others may not, but you will never know unless you take time out to give them a call.

Antoine Surita commented on 05-Feb-2016 02:11 PM
hi great post

Gertrude Lampinen commented on 05-Feb-2016 02:18 PM
hi great post

sLyncbectk commented on 30-Jul-2016 07:09 PM

Post a Comment

Captcha Image

payday loan companies ongoing bills discounts medical bills Consolidation Company installment plan lending company debt consolidation extra payments unemployed investing debt settlement asset info payment frequency great budget ideas second job social services security utility payments new job tax info credit scores introductory offers past bad debt medical bill debt relief agency gambling problem management advice younger children credit card help fly-by-night house loan debt solution insurances low interest deb consolidation loan amount debt collectors careful handling management program whole family overcharging bad financial decisions credit card debt teaching children finance financial security unreasonable expectations budget debt problems debit card losing your job losing a job savings account mortgages regain control credit card traps rent payments household items paying bills help loan agents credit repair monthly payments gambling debts control spending good credit record payment behavior home equity loans internet debt relief education common debt salary debts Chapter 13 implement a budget piling debts spending debt management mistakes personal finance managing debt borrowing buying a house visualization handling money own money specific budget categories personal finances less money loan harassment pay off debt budget ideas liability sickness credit report good credit rating credit accounts debt consolidation loans get out of debt creditors home debts need money legal action bank purchase protection paycheck info payday loan monthly payment become free down payment original creditor children budget credit company bad debt expenses job loss chapter 7 bankruptcy take control of debt debt company honesty family assistance domestic support flat broke bills debt traps illness credit cards full details loan reduce debts income hobbies account fees stop harassment borrower credit checks paycheck doctors learning experience credit card groceries spend money credit line your rights common debt traps check card debt payment period credit card companies ill health children saving repay loans cable bill borrow money debt programs finances account interest credit score mortgage payments child support installment plans debt free debt management tips worksheet debt great budget negotiation good debt checks rebuild good credit assets modified payment plan credit rating purchases insurance family budget debt management advice live within means tracking money management tips allowance credit reports comfortable living building debts high interest rate unsecured loan software total balance child support debt child spending loan companies interest rate hospital part time job unexpected expenses school jobs lending companies savings bank accounts interest payments lose your job live your life loss of income trusted friends making payments consumer lawyer emergency savings account budget sheet prioritizing receipt repay injury overspending cash overbearing bills account charges understanding save money filing bankruptcy professional deals in writing cash card loans monthly budget checking account order report budgeting more income budget categories home equity financial education credit history phone calls credit card company negotiate saving money debt collection agency extra money classify bills cancer credit companies good budget court appearance debt collector help bad debt management short sale credit limit paying out debt interest initial research monthly bill candidate credit telephone bills taking responsibility government assistance money car loan interest rates charitable organisation credit bureaus understanding home equity restrict spending saving seperate accounts secured loan debt management good credit repayment plans pay off bill help with debt debt consolidation medical debt invest money back support

Copyright 2016 - Free Info Site Enterprises
Privacy Policy  |  Copyright Policy  |  Website Use Policy  |  Non Endorsement Policy  |  Contact Us  

Finance Blogs
best blogs