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Creditors appreciate it when you talk to them. If you are having financial difficulties and know you will be unable to pay your credit card bill on time, you should contact the company as soon as possible. Whether you were laid off, your car broke down, or one of your kids got sick and you have huge medical bills to pay, explain the situation to your creditor and let them know you will be unable to make your payment on time. It's best if you can give them a definite time by which you will be able to make payment and creditors how much you will be paying. If the situation is one in which you are unlikely to be able to pay the minimum on time for an extended period of time, ask to speak to a supervisor, explain the situation to them, and try to set up a payment arrangement to avoid being charged late fees.