This is the second of two guest posts from the National Endowment for Financial Education (NEFE), a non-profit dedicated to improving the financial literacy of all Americans.  I frequently get asked for unbiased web-resources for financial literacy, and am thrilled to be able to bring this great organization to your attention. NEFE operates the site Smart About Money and have developed a selection of Economic Survival Tips, worksheets and articles focused on financial education related to Housing, Spending, Credit and Job Change. Join me in following NEFE on Twitter at @nefe_org

(1) I missed a credit card payment

Contact your lender as soon as you realize you have missed a payment. Ask them to waive the late fee or any additional charges that may have been applied to your account. This works best if you have a good credit history, but it is still possible to negotiate. Tip: Before you call, figure out how much you can pay and when you can pay it. A spending worksheet can help you get a handle on your expenses.

(2) I can’t pay my credit card bill

Before debt collectors start calling, contact your lender.  You may be able to negotiate a reduced payment plan, and remember, making a small payment is better than making no payment at all. Tip: Consult this Debt Payoff Worksheet to develop a plan to move out of debt.

(3) I’m worried about my credit score

Restoring your financial health requires a committed strategy and a proactive approach to improving your credit score. First, review your credit reports and make sure everything looks correct. Second, begin to pay your bills on time every month. This is the best way to begin to rebuild your credit history. Tip: For more steps to building good credit, read Build a Strong Credit Report.

What other problems have you encountered with credit cards?