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How to Deal With Credit Card Debt You Can’t Afford to Pay

Lynnette Khalfani-Cox, The Money Coach by Lynnette Khalfani-Cox, The Money Coach
in Debt
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Lynnette Khalfani-Cox
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A reader on AskTheMoneyCoach.com wants to know what to do about debt she can no longer afford to pay due to the loss of the family’s primary breadwinner.

This person probably has more leverage than she might anticipate with her creditors. In this video, I explain various options that someone in debt – and who can’t afford to pay the debt – might try in order to fix the problem.

Some people might be able to work out a payment plan, others may consider offering a lump sum settlement, still others may need to try credit counseling or bankruptcy.

Watch this video for a more detailed explanation on when each alternative is most appropriate.

Tags: credit card debt
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About

Lynnette Khalfani-Cox, The Money Coach®, is a personal finance expert, speaker, and author of 15 money-management books, including the New York Times bestseller Zero Debt: The Ultimate Guide to Financial Freedom.

Lynnette has been seen on more than 1,000 TV segments nationwide, including television appearances on Oprah, Dr. Phil, The Dr. Oz Show, The Steve Harvey Show, Good Morning America, The TODAY Show and many more.

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All information on this blog is for educational purposes only. Lynnette Khalfani-Cox, The Money Coach, is not a certified financial planner, registered investment adviser, or attorney. If you need specialty financial, investment or legal advice, please consult the appropriate professional. Advertising Disclosure: This site may accept advertising, affiliate payments or other forms of compensation from companies mentioned in articles. This compensation may impact how and where products and companies appear on this site. AskTheMoneyCoach™ and Lynnette Khalfani-Cox, The Money Coach® are trademarks of TheMoneyCoach.net, LLC.

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