Short answer: call your card company before you miss the payment, ask about a hardship program, and pay what you can. If you have more than one card and can’t cover the minimums on all of them, it is time to look at a bigger plan.

What happens when you miss a payment

  • Right away: a late fee, and you may lose any promotional rate.
  • At 30 days late: the card company can report the late payment to the credit bureaus, and your score drops.
  • At 60 days: many cards switch you to a penalty rate, which can be close to 30%.
  • Around 180 days: the bank usually “charges off” the account. You still owe the money. The debt is often sent to a collection agency or sold to a debt buyer.

You are not alone. About 7% of credit card balances moved into serious delinquency, 90 days or more late, in the second quarter of 2026 (Federal Reserve Bank of New York).

What to do this week

  1. List every card. Balance, interest rate, minimum payment, due date. Seeing it all in one place is the first step.
  2. Call each card company. Ask: “Do you have a hardship program?” Many banks can lower the rate or the payment for a few months. Ask them to send the terms in writing.
  3. Pay the essentials first. Rent or mortgage, utilities, food, car you need for work. Credit cards come after those.
  4. Don’t borrow to pay a card. Payday loans, cash advances and borrowing against your 401(k) usually make things worse.
  5. Look at the full picture. If you are behind on more than one card, a single plan may be better than juggling.

When a Fresh Start Plan makes sense

If the minimums add up to more than you can pay, and that is not going to change soon, our Fresh Start Plan combines your credit card debt into one monthly amount. We negotiate with your creditors to accept less than you owe. You see every offer before anything is settled, and most plans run 24 to 48 months. Your credit score will usually drop while you are in the program, and we explain the tax side before you start.

We never tell anyone to stop paying their bills. We explain what each choice means, and you decide.

No upfront fees. We don’t get paid unless we settle. Call (888) 514-1085 or text 718-766-5193.

Results vary and are not guaranteed. This article is general information, not legal or tax advice.