Are you having difficulty making loan or credit card payments? Getting back on track and staying ahead of your debt takes patience and time. Here are some actions you can take today to help get your payments under control.
Know where you stand
- Gather your information. Organize any payment information, notifications, and any other documents you may need. Group them by account and review them so you know how much you owe, when payments are due, and which accounts are past due and by how much.
- Request and review your credit report. The report will show missed or late payments, items in collection, and any legal judgments. Review the credit report for accuracy and begin to prioritize your repayment plan to pay off the debts. Remember that not all information will be up to date, and that your credit scores may vary, so be sure to check with all three national reporting agencies.
Access your free annual credit report
- Assess your situation. Start by reviewing all your expenses, and assess your income to determine if you are spending more than you’re earning. Then, you can decide if there are adjustments you can make in your spending habits to ensure your payments are more manageable.
Wells Fargo Online® My Spending Report
Contact your lenders to get help with debt
If you are worried because you’ve missed a payment, or may miss a payment, contact your lenders. Creditors don’t want to see you fall behind, they can help you work out a repayment plan that fits your situation and needs.