Those with credit problems may find now as the best time to approach credit card companies in order to get their rates lowered, fees waived, and other assitance offered. Credit card companies are desperate to keep their customers these days as they can ill afford to lose them as an increasing number of clients are defaulting on their credit cards or declaring bankruptcy. So, it may be a good time to give you credit card company a call if you are experiencing problems!

From TheStreet.com:

"Before the subprime lending crisis, the banks didn't have to bow and scrape for your business, but now they desperately need you," says Robert D. Manning, author of the book Credit Card Nation. "If you have a substantial debt load, they don't want to lose you" because someone with a big debt load is often profitable for the banks.

In other words, when you're facing an impossible credit card payment, you might have more bargaining power now on how to avoid missing it. In any event, you have reason to fight. Scott Bilker, the founder of DebtSmart.com, says your lender might raise your rate to as much as 32% if you miss a payment. If you were regularly paying off $140 per month on $5,000 of credit card debt at an original 10% rate that got jacked up to 32%, you could end up owing an extra $10,220 as a result.