What happens if I can't afford to pay my credit card debt?

If you can’t afford to pay your credit card debt in Washington, then you have a few options that you can consider. Firstly, you can contact your card issuer to request an alternate payment plan or a deferment in your payment so that you can pay the debt off in manageable installments. This might involve negotiating a lower interest rate or waiving fees, too. If that doesn’t work, then you can contact a credit counseling agency and speak with an expert who will help you work out a debt repayment plan and offer advice on how to better handle your credit cards in the future. Finally, you may be able to negotiate a debt settlement with your card issuer. This is where you will make a lump sum payment to your card issuer which is lower than your original balance. However, if you do this, your credit score will be affected, as will your ability to obtain new credit cards in the future. Ultimately, it is important to seek professional help if you are struggling to repay your credit card debt. Seeking help will prevent the situation from spiralling out of control, and give you the opportunity to restore your credit.

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What happens if I can't afford to pay my credit card debt?

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