Many tax paying, law abiding citizens in this country have found themselves in financial distress in recent years, perhaps more than any other time.
The economy is to blame but many just tend to over extend their credit and buy items they cannot afford and don't want to wait until they can pay cash.
Whatever the reasons, many find they cannot afford to pay the bills that come due each and every month.
For many in this situation there may be some help in the form of government grant money to help.
There are some things those who owe can do to relieve at least some of their credit card debt and that involves contacting the bank or lending institution and requesting their help.
Explain your situation and most will be very accommodating, as the alternative may well be filing bankruptcy and in that case they will receive nothing.
Some options include: oAsk them to lower your interest rate.
Many will cut the rate substantially, enabling payments to be lowered as well.
oIf you have had an account with a particular bank for quite some time, ask that they cut the amount you owe them.
Much as already been paid in interest charges so you actually don't owe as much as the balance shows.
oMake lower payments twice a month instead of only monthly.
This will help pay on the principal instead of just mainly interest (which you most likely have been doing for a long time).
oConsolidate most of your debt into one account with zero or a low interest rate.
When only one payment is required, it will enable you to pay the amount off much quicker.
Look to obtain help through the Debt Relief programs available through the federal government and then make a vow to never get in debt again, and stick to it.