<prompt> Human: Hello, all. First-time PF poster here. One of my credit cards has a balance of 6500 at the moment, and I have been delinquent on my payments as a result of my husbands brain surgery and subsequent medical complications. We are currently strapped for money.We have three other credit cards and student loans that we pay extra money on. We are trying to catch up on these payments as much as possible. However, we simply cant make the overdue payments on the 6500 credit card. It is continually racking up interest and late fees. Im not sure how we can get out of the proverbial hole at this point. If we make little payments, I feel we are just throwing money away because we cant stay afloat.Is it ever a good idea to allow the credit card to be sent to collections so that we can make a payment plan with them instead of the endlessly-badgering credit card company?Thanks so much. Im all sorts of stressed and overwhelmed now, and really not sure what the best way forward would be.  <response>: I would call the credit company first and work with them. See if you can get as many fees and late payments waived, and if theyd allow for a payment plan. If the account goes to collections, they usually sell it for pennies on the dollar, so the bank has financial incentive to work with you to get the remaining balance down.If you are to allow your debt to slip into collections, they may be a lot more annoying and sketchy than your current FI. Keep in mind that you have legal rights when dealing with collections agenciesA third option is getting an installmentconsolidation loan from a small bank or credit union to pay down your debt. This will generally be for a much lower interest rate than your credit card. Keep in mind that this will only work if you solved your cashflow issuesHope this helps, and as always, best of luck out there. 