Credit card companies are persistent when it  comes to default. Although consumers may not know it, credit card companies realize that they fall low on the totem pole in relation to a mortgage or car payment. If you are having trouble paying your bills you may want to consider setting a priority list to ensure you pay your secured loans (auto, home) and necessities first.

While your credit reports will take a hit on any late payment whether its secured or not, you certainly cant work without a car or live without a residence. Credit cards should be the last thing you pay if you’re struggling to pay the day to day necessities like food and utilities.

Contacting the credit card company to see if you qualify for a financial hardship may help, but in the end, there is little they can do for you long term. You can also contact a debt management firm to help lower the payments, cease collections and restructure the payments but you need to have steady income for that. It’s best to prioritize the payments in writing and stick with the plan until you can catch up if you do not qualify for hardship or debt management plans.

Debt negotiations really isn’t an option in this scenario because you have to have lump sum cash to settle or reduce the debts permanently.

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