You might believe that everything on your credit card bill from the interest rate to the minimum payment is set in stone, which in turn makes it impossible to get out from under your current credit card debt. Debt fears, however, should not overwhelm you or your New Jersey household. Contacting your credit card company and ask them for help in managing your debt might be the answer you are looking for.

Nerdwallet suggests that contacting your credit card company will, at the very least, not hurt. In a worst case scenario, your creditors will simply turn you down and you will not be any worse off than you were before. However, your creditors may be receptive to helping you, if for no other reason that by doing so they may maintain you as a customer, particularly if you have a long record of sending in payments on time.

It is unlikely the terms of your payments will be radically changed. However, even changes that are smaller in scale may help you eliminate your debt. Try to lower your minimum payments per month. Also see about reducing your annual percentage rate, which will reduce the amount of interest on your payment. Be ready to explain your current financial situation and steps your propose to take in reducing your debt.

If your creditors also offer a 0 percent balance transfer credit card, you may have a way to consolidate your debt if you are making payments across multiple credit cards. You can transfer your existing debt from other cards onto a 0 percent card, and with the 0 percent introductory period that such cards offer, you can move your debt onto the card without paying transfer fees. You only have to worry about making a single payment per month on your debt. And with debt on just one card, you only have to worry about working out your debt problems with a single credit card company.

This article, while intended to inform the reader about credit card debt, should not be taken as legal advice.