|
At some point in their life, everyone is
faced with financial problems and can't pay their
bills. It doesn't matter how much you owe, or even
who you owe - if you haven't got enough money, someone
is not going to get paid when you can't pay all your
bills.
If it's a short-term problem, you
can probably weather the storm, but if it goes on
month after month, sooner or later you're going to
face some hard choices.
What happens if I don't pay my bills?
Depending on your general payment
history, your creditors (the people to whom you owe
money) may allow you to miss a single payment and
their response will be a letter politely requesting
payment. If you miss a second payment, the letter
will be more insistent and it might be followed by
a phone call. It's when you miss the third payment
that trouble typically begins. In most cases, your
account will be turned over to a Collection Agency
for processing.
What are my alternatives when I can't
pay my bills?
If you are having problems paying
your bills, here are some alternatives:
 |
Create a proper budget.
|
|
Use your budget to determine if you can increase
your income or reduce your expenses each month. In
other words, perform budget analysis
|
|
Repair your credit
|
|
Consider debt consolidation
|
|
Consider credit counseling
|
|
Consider a debt
management plan
|
|
Make a consumer proposal
to your creditors
|
|
Consider bankruptcy
|
What do I do now?
The purpose of this page was to make
you aware of the alternatives that are available to
persons, like you, who are experiencing financial
difficulty and can't pay their bills.
If you are experiencing money and
other financial problems and can't pay your bills,
we recommend that contact
us to discuss your specific situation. All consultations
are provided free of charge.
Don't put off peace of mind - contact
us today for help paying your bills.
|
.gif){kind=spacer}
