What happens if I can’t pay my bills?

[Deptofdebt]

It’s only this month, next month will be easier but a series of unfortunate events mean I’m unable to pay the following:
car loan
car insurance
credit card
phone bill

what happens here? If I call them and explain will they let me off until next month? I’m honestly sick with worry over this

Phone bill probably nothing. They will send you a reminder and if you pay both months by next month it should be okay. Car insurance similar.but they may cancel the insurance so I would give them a call. Loan is difficult. You need to call them and explain. Cc they will probably add fees for late payment so.gove them a call.

Let you off as in say you don't have to pay?

No. It'll be a late payment. They will still want it. There may also be late payment charges.

Car insurance is the only one I'd worry about in case they cancel your insurance.

You need to phone them all, explain your situation, ask them for time to pay. Tell them when you'll be able to pay them. Hopefully they will be understanding.
Many of us are in the same boat. Times are tough. Nobody's going to show up with a bag of money and say here you go. Sadly. I wish they would. 😁

Many companies are sympathetic and do want to work with you.

Good luck.

I echo phone them all. Be realistic about what you can pay & when . Breaking an arrangement will count against you , so please be honest

Just phone them, mine were lovely and gave me a 2 month break on my credit card
Your insurance and gas may just add the premium onto the remainder of your contract

Speak to them.

Phone company - may be a good time to discuss your price plan and any changes that can be made to reduce it too.

Some may want a small payment towards q deferred payment, so worth seeing what you have and what you might be able to offer as a token payment before calling.

I'd prioritise car insurance, car loan and credit card over the phone bill though

You should be fine if you deal with it and ring the companies and don't bury your head in the sand and just not pay, Ring and ask for a payment holiday for the loan and card and come to a payment arrangement for the other 2

good luck

If you phone them and explain your situation, they will probably offer you a temporary affordable plan.
They would rather you pay something than nothing.
Doing nothing will only dig you a deeper hole.

Just be mindful they may come out of your bank if you've direct debits set up.

Some car insurance companies are ok as long as you call and let them know. Can't remember who I was with at the time but I had to call & rather than making me pay double or late fees they just spread it over my monthly payments for the rest of the year.
Also most phone/internet company's are ok as long as they know in advance.
Sorry not sure about credit card or car loan but again all you can do is let them know surely it's better for them that they know you're still going to be paying but that the payment will be delayed due to unseen circumstances.

I don’t mean not have to pay although wouldn’t that be nice 🤣 I just mean until the end of the month when I get paid. Just feels like at least the moment everything is drowning. I’ve been dodging the calls as I’ve been so stressed. Will call today, god I hope things get easier soon!

Hope you got it sorted op
The stress & anticipation is the worst part; hopefully after you've called or answered it's been resolved.

Realistically each lender is unlikely to kick up much of a fuss. They know that many people are struggling, and as long as you do catch up in a month or so they aren’t going to try harassing you to pay.

What will likely happen though is that they will report a missed or late payment to the credit agencies. This will remain on your credit file for six years and may make future credit more expensive,

Try and pay the minimum amount on your credit card; that is better than no payment at all.

and don’t feel worried about the calls - no one is going to shout at you! They will honestly just want to help sort it out, and the person phoning you us just doing a (boring) job following up, sometimes you can have a really good chat and it will make you feel loads better, loads more in control.

dodging things never helps, trust me! (I’m a terrible dodger of things, don’t know why, it only ever ends up with me feeling far worse!)

I'd phone the companies concerned and explain your situation. Also, if you can pay offer to pay them something, ie £5 it shows goodwill and the fact you've made an offer should things get difficult.