Tennessee residents with delinquent payments have a credit card account that’s past due. This will not only have a large impact on your overall credit score, but it can lead to serious harassment by creditors. If you’re dealing with delinquent payments while trying to overcome creditor harassment, there are ways for you to get the help you need and get back on track.
The Balance lists out different ways to deal with your debts. When it comes to past due credit accounts, the number one method of digging yourself out of the hole is by paying the past due bill fully. If you’re able to do this, it’s the easiest, quickest, and most efficient way to get your money on track again. Payment plans can also be submitted, and may either be formally approved by your creditor or can be created and stuck to by you.
Filing for bankruptcy is an option if you feel too overwhelmed by your debts. In doing so, you will be able to alleviate the creditor harassment. Depending on which bankruptcy option you go with, you can work out a payment plan to pay off your debts within a timeframe that works for you personally.
Settlement plans are also possible. If you go for this option, a lower lump-sum payment may be submitted for approval by your creditor. If you can pay that lump sum upfront, then your account will be reclassified as settled instead of past due.
Finally, debt consolidation is an option that doesn’t lower your overall debt, but makes it easier to pay off. You’ll have all of your debt on one card, allowing you to avoid the penalty of multiple interest rates. The ease of only having one bill to keep track of can be a big help for many, too, making it a great option to keep in mind.