Consequences of Ignoring Your Bills

Have you ever failed to pay a bill?

Early in my marriage, I was in charge of paying all the bills. One day, my wife, Ann, was home when the doorbell rang. A city employee notified her that he was shutting off the utilities due to our non-payment status. Shocked, she assured him that there must be a mistake. She quickly tried to call me on our landline but the phone had been shut off. I had forgotten to pay that bill as well. She just carried on a fake conversation and told the man that the payment was in the mail. He believed her and decided not to turn off our utilities! That day Ann took over the checkbook and the responsibility for paying our bills!

The ramifications of missing payments are higher interest rates, late fees, and having your accounts closed. Your credit score is negatively impacted because payment history is reflected in a significant way. If you miss a payment, call your provider as soon as possible to at least pay the minimum required. If you can’t pay, they may offer a modified due date, a reduced interest rate, or some kind of payment plan. Credit card companies report late payments to credit bureaus once they’re more than 30 days late. Automating your payments will prevent headaches, costly penalties, and expensive fees. Plus, it reduces stress in your marriage! As Paul wrote in Romans 13, “Let no debt remain outstanding, except the continuing debt to love one another, for whoever loves others has fulfilled the law.” (Romans 13:8)

Is credit card debt creating late payments? I recommend Christian Credit Counselors. They’ll create a debt management plan just for you. For more information call the Crown Helpline: 800-722-1976 or visit online at crown.org/ccc.