Struggling To Pay Your Credit Card Bills On Time Here's What You Can Do
Unable to pay the current month's credit card bill? You can definitely relax; it happens to potentially anyone. Given the current pandemic circumstance and employment misfortunes, a large number of people are confronting serious monetary misery bringing about neglected bills and uncleared EMIs.
Neglected credit card bills can bring about late installment expenses, increased interest rates, and extreme harm to credit score. In the event that you can't cover your credit card bills for over 90 days, they freeze your credit card and turn in your record to assortment offices. That won't be a wonderful encounter and we would need to stay away from it no matter what.
What happens if you don't pay your credit card bill?
In the event that you don't pay your credit card account on schedule, you'll be charged late punishments, your loan fee will rise, and your credit score will endure. Assuming that you continue to miss installments, your card might be frozen, your obligation might be moved to an assortment office, and the obligation authority might sue you and hold onto your resources.
So, what are the options left if you can’t pay your credit card bill? Let’s have a look;
1. Paying the Minimum Due Amount
2. Talk to your bank
3. Stop using your credit card
4. Opt for Balance Transfer
5. Get a personal loan to pay off your credit card debt
Reference; Struggling To Pay Your Credit Card Bills On Time Here's What You Can Do
