Question

a person has three credit cards with very large outstanding balances and is unable to make payments on any of them. which action should the person take? google translate notify a credit reporting agency in order to avoid a late fee. notify the credit card companies in order to negotiate a payment plan. file for bankruptcy in order to maintain their current credit score.

Explanation:

• For the first option: Credit reporting agencies don't handle avoiding late fees; they report credit info. So this is incorrect.
• For the second option: Notifying credit card companies to negotiate a payment plan is a valid step when unable to make payments, as companies may be willing to work out a plan to get paid over time.
• For the third option: Filing for bankruptcy severely damages credit score, so it's not a way to maintain current credit score. Thus, this is incorrect.

Answer:

B. Notify the credit card companies in order to negotiate a payment plan.