Keeping up with loan and credit card payments can be difficult, especially if you are experiencing a job loss, illness, or have become overextended with credit. 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

1. 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. If you’re a Wells Fargo customer, you can set up different types of alerts (such as email and text) to help remember upcoming payments so that you're managing your credit payments responsibly. 

2. Request and review your credit reports.

   Check your credit report regularly to ensure that your credit history is accurately reflected. You are entitled to a free credit report from each of the three national credit bureau agencies: Equifax^®, Experian^®, and TransUnion^®. Your reports will show missed or late payments and items in collection. Review your credit reports for accuracy and begin to prioritize your repayment plan to pay off the debts.

3. Assess your situation.

   Start by reviewing all your expenses, and assess your income to determine if you are spending more than you’re earning. Leverage our on-line debt-to-income calculator. Compare how much you spend on your monthly recurring debts payments and expenses (like loan payments, rent payments, etc.) against your income. Then, you can decide if there are adjustments you can make in your spending habits to ensure your payments are more manageable.

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.

• Prepare to talk to lenders