03-11-2022, 04:34 AM
[CREDIT] Stay positive and play the game.
<!-- SC_OFF --><div class="md"><p>As the markets go down and the pandemic is still in affect, you may find yourself struggling to pay off your credit cards.</p> <p>If you are in this unfortunate situation, don’t panic or loose control. Remain as positive as you can and orchestrate a plan to get through it.</p> <p>Credit card companies will send you message after message, and sometimes even send you IRS notices like the 4506-T income verification form.</p> <p>At this point, strategize your next moves within this financial game; look at which cards are connected to banks that may be more lenient than others. Start with those accounts and try your best to keep the proverbial “wolves” off your back.</p> <p>After you complete that, see what your options are with the more strict credit card companies (ie. Discover) that have less tolerance with their customers.</p> <p>There’s a realistic scenario where you will not be able to pay off the card and the account may be closed. If this occurs, once again don’t panic or loose control.</p> <p>Worse case scenario you will be responsible for the balance after the account is shut down and your credit score will also be affected. But that doesn’t mean the game is over. You can always pay off the balance at a later time and reestablish a relationship with that same company.</p> <p>Keep your heads held high and always remember that somewhere else in the world, there’s somebody else dealing with much more severe problems then you.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/WallStreetDoesntBet"> /u/WallStreetDoesntBet </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/taynko/credit_stay_positive_and_play_the_game/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/taynko/credit_stay_positive_and_play_the_game/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>As the markets go down and the pandemic is still in affect, you may find yourself struggling to pay off your credit cards.</p> <p>If you are in this unfortunate situation, don’t panic or loose control. Remain as positive as you can and orchestrate a plan to get through it.</p> <p>Credit card companies will send you message after message, and sometimes even send you IRS notices like the 4506-T income verification form.</p> <p>At this point, strategize your next moves within this financial game; look at which cards are connected to banks that may be more lenient than others. Start with those accounts and try your best to keep the proverbial “wolves” off your back.</p> <p>After you complete that, see what your options are with the more strict credit card companies (ie. Discover) that have less tolerance with their customers.</p> <p>There’s a realistic scenario where you will not be able to pay off the card and the account may be closed. If this occurs, once again don’t panic or loose control.</p> <p>Worse case scenario you will be responsible for the balance after the account is shut down and your credit score will also be affected. But that doesn’t mean the game is over. You can always pay off the balance at a later time and reestablish a relationship with that same company.</p> <p>Keep your heads held high and always remember that somewhere else in the world, there’s somebody else dealing with much more severe problems then you.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/WallStreetDoesntBet"> /u/WallStreetDoesntBet </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/taynko/credit_stay_positive_and_play_the_game/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/taynko/credit_stay_positive_and_play_the_game/">[comments]</a></span>Kind Regards R