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I can't pay my credit card bill!

Since the credit crunch began many people have been struggling to pay their credit card bills on a monthly basis and indeed many are now starting to fall behind with their payments. So what can you do if you start to struggle with your credit card bill?

The first thing you must do is stop spending on your credit card! Then you need to take professional advice from either a financial advisor or else contact your credit card company direct and let them know that you are having short-term difficulties and would welcome any assistance they could offer. Credit card companies would rather "go easy on you now" and ensure that they get their full payment in the future than squeeze you so tightly that you burst!

However, if you are struggling to pay your credit card bill it is likely that you are struggling in other areas of your financial life and you may need to look at the overall picture, taking into account assets, income and liabilities. The longer you leave this the worse it will get as the turmoil in the UK, and the personal financial difficulties many are feeling, will still be around for many years to come.

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