Because of COVID-19, my income has been significantly reduced and I can’t afford my credit card payments, what should I do?

If you are unable to pay your bills on time, the Consumer Financial Protection Bureau recommends contacting your lenders and servicers to let them know about your situation. Many banks and credit card companies have offered several options to help their customers. This may include waiving certain fees like ATM, overpayments, and late fees as well as allowing you to delay, adjust, or skip some payments. The options provided by banks and credit card companies may help you remain in good standing and protect your credit score.

Read more:

Many thanks to Community Legal Services, David J. Newstone, and the National Consumer Law Center for their help.

Print   Email