7/28/2023 0 Comments Common bills to pay![]() ![]() ![]() Your debt will still collect interest, but you'll only have one payment to make and you could get a lower rate overall.Ī credit counselor can help find a solution to make payments more sustainable. If you're not able to get approved for a 0% intro APR and have multiple credit card balances, consider applying for a debt consolidation loan. If you don't, your 0% APR period might end early. However, if you're already in financial trouble and can't make your current minimum payment, this may not be the best option for you as you'll still be expected to make payments on your new card, even during the intro period. You'll typically need a credit score of at least 670 to take advantage of one of these cards, but shifting your credit card debt to a 0% intro APR card can save you time and money when trying to pay off credit card debt. If your credit score is still good enough - for instance, you haven't missed any payments yet - consider applying for a 0% introductory APR credit card and transferring your balances. Transfer your balances to a 0% intro APR credit card You could also rent out your car on Turo when you're not using it.Ĥ. You could start up a side hustle or sign up to be an Uber or Lyft driver. ![]() Go through your storage closet of unwanted items and used electronics and list them for sale on apps like eBay, Mercari and Poshmark. Once you've nailed down your opportunities to save, start looking for additional ways to make more money on the side. These small changes may not be enough to cover your bills, depending on how much you owe, but the money you save can still add up in the long run. You could also use a "pay as you go" car insurance option if you don't drive often. If possible, work from home to save money on gas. Try eating at home more often and cutting back on restaurants and specialty coffees. Next, consider canceling streaming services or cable, cutting back on shopping and returning unnecessary recent purchases. States also offer rental assistance, as well as Temporary Assistance for Needy Families, which helps with food, housing, home energy, child care and job training. There are programs that can give you an allowance to pay your energy bills - for instance, the Low Income Home Energy Assistance Program. If you're running into budgeting problems that are making it difficult to pay your bills, consider cutting any unnecessary monthly expenses and applying for government assistance. Rework your budget and find places to save or earn more Rod Griffin, senior director of consumer education at Experian, suggests contacting your attorney general's office or the Consumer Financial Protection Bureau, as well as checking for all of your local options. They can also negotiate with creditors on your behalf to create a new payment plan. These programs can help you find a long term solution with your creditors based on your budget, making payments more sustainable. "A debt management program allows you to get back on track affordably within your budget, while you also benefit from reduced payments and interest rates until you pay off your accounts," McClary explained. Try credit counseling or a debt management programĪnother option for help with credit card debt is to seek out non-profit credit counseling agencies or debt management programs that can help with budgeting. Contact your lender ASAP if you can't make a payment. ![]()
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