It’s going to happen to most people at some point in their lives. It is a very rare kind of person that never experiences money problems.
Missing a payment on your credit card does not make you a bad person, a financially reckless individual or a debt risk. Now that doesn’t mean it’s okay to miss payments, or that you shouldn’t do everything within your power to make sure you pay your debts on time (and eliminate them altogether as soon as possible!).
There is a way back from credit problems.
Being late or missing one credit card payment will not have a disastrous effect on your credit rating. But, it should be a wake up call for you. I can tell you from personal experience that once you have been late with one or two payments, the next ones somehow don’t seem like they are as big a deal.
The problem is, the further behind you get, the harder it is to dig yourself out of the hole. Now, my preference for you would be that you don’t get into debt in the first place. If you are already there, I recommend becoming debt free as soon as possible and making a promise to yourself to not go into debt again.
You may think that is easier said than done. But, if you have ever been so far in debt that you couldn’t see a way out, didn’t know if you were going to be able to keep your utilities connected or your home from being foreclosed on, you will find it easier to do without the things you used to think you couldn’t live without than take that risk again.
You can turn things around. You’ll find lots of tips and advice here on my website, as well as a 21-day course on how to get out of debt and get on the path to financial freedom.