The credit crunch means that more of us are being hit with the relisation that our income may not able to cover all of our outstanding debts. Whether this is a long term problem or something short term because of unexpected expenses, it is important that you seek help and be careful not to make any financial errors which could land you with more credit card debt in the long-term.

Be in control.
The best way to ensure that your credit card debt is affordable is to be on top of your financial situation. If you keep your records up to date, you should be able to budget better and ensure that you can afford to meet at least the minimum payment.

unaffordable credit card debt

Can you budget better to afford your credit card debt?
If your problems are short-term then it could be best to go without for a couple of weeks so you do not fall behind with your credit card debt repayments. For example, eat in instead of going out for meals and use this extra cash to pay your credit card debt.

You could even try and sell some things online, such as old clothes that you’ll never wear or DVDs that you’ll never watch again. This can be a great way of raising some additional cash as well as clearing out your house of items you no longer require.

Get in touch with your creditors.
Although the first thing that you’ll want to do when you realise you can’t afford your credit card debt is to hide away from your creditors, it could be worthwhile getting in touch. Contact them before your credit card bill is due to be paid and explain the situation, you could be very surprised with their level of helpfulness.

Get help to deal with credit card debt.
If your credit card debt is more of a long-term issue, or you have problems repaying other forms of unsecured debt such as store cards or unsecured loans, then you now could be the best time to seek debt advice.