Credit card companies are feeling the pinch of a growing number of delinquencies and defaults. As a result, they're putting the squeeze on some of their accounts in the form of big increases in minimum payments. What should you do when your credit card company suddenly doubles or even triples the minimum amount you have to pay each month? Carmen Wong Ulrich explains.

If you have a financial question you'd like Carmen to tackle, post it here in the comments or email us directly at ivcommunity@mail.ivillage.com

Watch Carmen Wong Ulrich's 'On The Money' Saturdays at 8PM ET on CNBC! Find more information on coping with the economy with our Bail Yourself Out resources.