How Many Months Can I Go Without Paying Credit Cards?

What Happens When You Stop Paying Credit Card Bills

Paying your credit card bill every month can be frustrating. You work all month just to make a minimum payment on your credit card debt that barely helps to scratch the surface. It can get so frustrating that you may even consider giving up. But if you stop paying your credit card bills, bad things can happen to your credit. For starters, there is no set number of months that you can not pay your credit card bills before it affects you. Some credit card companies will report you to the credit bureaus just for making a payment a week late. Others may give you the benefit of the doubt and hold off on reporting you to the bureaus provided you pay them next month. However, it’s safe to say that if you skip more than a month, you’re going to get reported to the credit bureaus and your credit report will include notations from your creditors.

How Not Paying Credit Cards Affects Your Credit Report

Though you may not care about what’s on your credit report, other creditors certainly do. So, let’s say you stop paying your credit cards for a few months. Aside from racking up late fees and extra interest charges, you’re also going to find that your credit report will now include notations from your creditors that show that you stopped making payments. So if you plan on trying to get a loan for a car in the future or a mortgage on a home, you’re severely hurting your chances. Additionally, if you refuse to pay your credit cards for several months, your creditors may hire debt collection agencies to force you to pay your bills. This can be unpleasant and could result in you getting sued for your debt.

Other Options To Pay Off Your Credit Cards

Yes, credit cards can be frustrating. But there are alternatives for you. Rather than struggling every month, look into debt consolidation. Debt consolidation can take all the credit card debt you have, lump it together into one easy-to-manage account and help you get a better interest rate on your debt. It can lower your monthly payments and help you pay off your debt more quickly.

Instead of giving up on your credit cards, explore other ways to help you eliminate your debt.

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