What Is a Zero-Based Budget?
Much like in work and life, sometimes, you have to stand up for yourself and speak up. When it comes to settling debt, this is absolutely the case. Simply put, you need to be your own self-advocate. "If you are finding it hard to pay your monthly credit card payment and your mortgage or rent, or if high-interest rates are making it impossible for you to get rid of the debt, it might be time to give your credit card company a call," says Colleen McCreary, chief people officer at Credit Karma. Rather than risk you ignoring the debt (which, in turn, will be handed over a debt collector) or filing for bankruptcy, the issuer may be willing to negotiate it down to a lower amount owed so they get back some of that money rather than lose it all-and this is to your advantage. Here, we asked McCreary how to work out a deal.