What Happens When You Stop Making Credit Card Payments?

Whether the reason is a layoff, a medical emergency or a pile of debt that is more than you can afford, struggling to pay credit card bills is a problem many people face. When you quit making credit card payments, you can be charged late fees and higher interest rates and take a hit on your credit. Brent Vallat, head of lending at Varo Money Inc., a provider of mobile banking services, says credit card issuers understand that sometimes people face circumstances where money gets tight.