3 Ways to Survive a Cash-Flow Crisis

Redbook

by Beth Kobliner,REDBOOK

It happens. One minute you're in the black, the next you're blindsided by budget-blowing surprises (fun stuff like a root canal or car trouble). Stay calm and follow this advice.

Tap your friendliest biller first. Dial up offices that know you personally, like your dentist. They're more likely to give you extra time to pay without reporting it to credit bureaus (so your credit score won't take a hit). But be sure always to ask up front about interest rates and penalty fees.

Related: The 18 Most Annoying Male Habits Explained

Devise a new payment plan. Been in this bind before? Consider phoning the National Foundation for Credit Counseling (nfcc.org) or the Association of Independent Consumer Credit Counsel-ing Agencies (aiccca.org). They can work with your creditors to negotiate a more budget-friendly payback schedule with a reasonable interest rate.

Related: 5 Things Super-Happy Couples Do Every Day

Beware short-term loans from new sites like billfloat.com, which pays bills of up to $225 for you but requires you to pay it back in 30 days, with 3 percent interest plus a fee. One little loan could quickly spiral into a black hole of debt.

REDBOOK's money expert, Beth Kobliner, is the author of Get a Financial Life and is on the President's Advisory Council on Financial Capability.