Most people generally pay bills on time. However, with layoffs and no jobs, most consumers can't pay. Many are trying to make ends' meat and just survive the recession. So what do you do?My top three anwers will be to negoitate with your creditors, create a budget and get back on track.First, negoitate with your lenders before your account starts to go bad. The month prior to you missing that bill, call them and ask what your options are. Most of them will reduce the interest, so that you can pay off the bill faster. Some will even reduce the monthly payment.Second, make a list of all the bills you can pay and focus on them. Budgeting your bills is the key to success. You can get overwhelmed easily and the phone calls will start to come from collections agencies. Never never talk to collection agencies via phone. Tell them to respond about any account via mail and to not harass you. In some cases, you will have to write them a letter.Last, get back on track. Just because you fail behind one or two months, doesn't mean life is over and your credit will be ruined forever. Remember, that was a temporary situation that you could not avoid.. So get back on track. Your credit will rebound. If you run from it, it will only do more damage to your score.During this time, do not apply for credit. You will mostly likely get denied. If a creditor pulls you file and see's you are already behind on bills, why would they approve you for more? Don't risk loosing points on your credit to denials.To be continued....More articles can be found by joining my fanclub at www.reginalittles.com
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