As the economy is still rocky and job loss is still possible, so it may be no surprise to learn that you can not always afford your credit card minimum payments. It is becoming more common of an occurrence as families struggle to keep a roof over their heads and food on the table, leaving not much room for credit card payments.

One of the worst things you can do is miss a monthly credit card payment. In fact, just being late with a payment can have dire consequences on your credit due to the stricter rules of credit cared companies these days. However, there are consumers who will struggle with making on time payments and if you are one of those people, there are some ways you might be able to help yourself out of a bind.

Here are some Do’s and Don’ts to help you work through financial hardships when credit card payments are due:

DO NOT: Ignore The Problem
Face it, this kind of problem will not go away if you stick your head in the sand. You must take action, no matter how you feel about the situation. Face it now or deal with much worse down the road.

DO: Call the Creditor
As soon as your realize you are tight for cash, contact the credit card company immediately and be honest about your situation. Speak with a supervisor who can make decisions and make notes on your
contact call, including name of the supervisor, date and time of the call.

DO NOT: Lie
If you expect to get help, tell the truth. Let the creditor know when you expect to pay your credit card bill. If you have a bad payment history with the credit card company, they may not be willing to work with you at all but its worth the try.

DO: Ask For Help
If your credit card company will not work with you at all, ask around to friends or family who may be able to give you a temporary loan to get by. Don’t simply let the due date pass without trying to find the cash. You might even need to approach your employer about taking an advance on your salary.

DO: Be Willing to Negotiate
If the creditor is willing to work with you by offering an extension, make sure you can let them know when you can afford to pay and how much. If they are demanding something you can not follow through with, don’t accept the offer. Keep trying to negotiate.

DO NOT: Go Back on the Deal
If you have made a deal with a creditor for a payment at a later date, you better be sure you honor that agreement on time. Otherwise, the creditor will not likely work with you in the future and your negative credit activity will be reported to your credit history. You will also incur penalties and fees you likely can not afford to pay.

DO: Work Out a Budget for the Future
The key to success with finances is to learn from your mistakes. Take time to organize and prioritize your bills so that you will never run into this situation again. You may need to find a supplemental source of income to help get you back on track.