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What To Do If You’re Behind In Your Credit Card Payments


It’s happened to the best of us. At one point in your life, you most likely paid off your credit card bill every month, but then something happened; maybe your car broke down or your water pump busted. Maybe you just HAD TO HAVE that big screen TV and then discovered that you really didn’t have the money to buy it at the end of the month. Either way, you now have a balance, and you’re getting behind.

3 Things You Must Do If You’re Getting Behind On Your Payments

1) Communicate your situation – Whatever you do, do NOT run away from the problem. If you have creditors contacting your house and you avoid them, you will have absolutely no chance of getting a break on your payments in the future. They will not let up until they get their money in full.

They probably will not enjoy a sob story either. Just let them know why you’re behind; no fluff, just the facts.

2) Make a Written Plan For Repayment – These creditors have heard it a million times…”I promise, I’ll pay you by Friday!”, and then Friday comes and goes without any payment whatsoever. Make sure that they know you’re serious.

Write down your expenses for the month and show them how much you will be able to pay. It may not be the amount that they want, but at least you are showing them that you are making a real effort. When they see something in writing, they’ll definitely take you more seriously.

3) Be Honest – The creditors that you are dealing with have most likely dealt with thousands of cases just like yours. They have heard every excuse in the book, and if you are lying, they’ll probably know it before you complete your sentence.

Creditors do not tolerate liars. If they get the feeling that you are being dishonest, your life will instantly become a living nightmare overnight – they will make sure of that. ‘Honesty is the best policy’ – yes, this statement is still valid today, and for all scenarios, not just this one.

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My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.


  1. If this is your first default, most card companies are sympathetic and will give you an extended grace time. But you’ll have to talk to them and keep your end of the bargain.

    • Communication is definitely the key to working through the issue with your creditors.

  2. These are good tips. I would also add that contacting your creditors instead of them contacting you usually ends in a better outcome.

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