There are several ways to help when your family finds itself in a difficult economic situation. When my family suffered financial hardship we learned these tips.
1.
Most credit card companies will work with a person who is having difficulty. Call the credit card company and speak with a representative. Ask them if they are able to lower the interest, set up smaller monthly payments or finally if they are willing to negotiate a final settlement payment in full. Under the final solution they will ask that you close the card account completely but that is a better option than bad credit. If you chose these methods the credit card company cannot report you for any ill credit unless you were delinquent
2.
If there are medical bills, most medical billing offices do not charge interest. It is better to make payments to the doctor/hospital directly and than it is to put them on a loan or credit card. Pay the minimum they will allow but only after you offer to make a payment of no less than $40.00 per month. This will literally save thousands of dollars in interest fees.
3.
Accounts already in collection can be negotiated for final payment in full and will usually give you a percentage off the total due. Usually 3 to 5 percent is the maximum that they allow. Depending on how much is in collection here again a savings can be in the hundreds to thousands doing this.
4.
Most utility companies have payment schedules, call them, many will take a years worth of your billings and round them out and put a payment plan on as a percentage of the yearly amount of the past. If at the end of the year the billing is still outstanding because of a difference in usage you will need to be prepared for a larger than normal payment in December or January. Although savings is not large here you can at least lower the stress level within the home.
Ref: Carpet & Rug Institutes Carpet Maintenance Guidelines Products I Like To Clean My Carpets: Febreze Carpet care
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