If you’re out of a job and behind on your credit card payments, it might be very tempting to stop taking calls from your credit card issuer and their collection agency. But that’s not the best way to handle things. Even if you don’t have a penny to give them, it’s a bad idea to ignore the problem and hope that it will go away. Here are five tips to remember when you pick up the phone and get in touch with your credit card issuer.

Tip 1: They Don’t Know What You Don’t Tell Them

As unlikely as it may seem, banks do want to work with their customers. Many have instituted special programs for customers who are behind on their credit card debt and facing tough financial times. Call your credit card company – preferably before you default, but definitely if you can’t make payments – and see what they can so for you. If you simply stop paying, they won’t know that you’re facing special circumstances.

Tip 2: Tell It Like It Is

Tell the collector that you’re unemployed and cannot afford to make payments at this time. That’s really all they need to know. If they push you to set up a payment plan, cut in and tell them you’ll call back when your situation improves.

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It seems like every sector is having problems these days, from the factory workers to the CEOs and even the national government. Business is plummeting while unemployment soars. But there’s one industry that’s weathering the recession just fine: debt collection. If you’ve gotten behind on your credit card payments and started screening your phone calls, there’s hope for you yet.

First, realize that you’re not alone. Debt collection is booming precisely because so many people have gotten behind on their payments. We’re not a culture who likes to talk about our financial difficulties with others, but chances are good that you’re not the only person at the party who cringes every time the phone rings.

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