Why This Woman Isn’t Paying Off Her Credit Card Bills

Paying off your credit card bill every month is one of the primary rules of personal finance. It doesn't only instill financial discipline but also keeps your credit score high. However, with steep inflation rates, many Americans are failing to follow this thumb rule. A TikTok user, @miss.brandiii, recently took to the popular video-sharing platform to talk about why she isn't paying off her credit card bills.

"If you’re anything like me, just a normal person with a normal job in this economy that can’t afford anything these days, except your bare necessities, then you’ve slacked on paying some of your bills," she says.

She informs her followers how she has not been able to pay off her credit card bill for the past seven months. Despite making a decent amount of money, she is finding it very difficult to pay her credit card bill and fulfil her basic needs. 

She was informed by her credit card company that they are very close to sending her debts to a collection agency. The credit card representative warned her that this would impact her credit score, to which she says, "Do you also realize that right now my credit score means absolute fall, nothing to me?” Brandi says, “Do I look like I’m buying a house? Do I look like I’m buying a car? Does it look like I can afford to buy anything ever again?"

"I’m going to save us both the time here," she told the credit card company employee. “Just send it straight to collections because between now and next month, if you keep trying to call me, nothing’s going to change," she adds.

As per Bankrate, 49% of Americans are currently carrying a balance on their card and this is not because of their shopping addiction but rather due to emergency expenses. As per Bureau of Labor Statistics data, prices for shelter and food have risen tremendously in the recent past which has made it harder for people to afford basic needs. 

"Inflation is making an existing trend worse," Bankrate senior industry analyst Ted Rossman told CBS MoneyWatch.

However, ignoring your credit card bills is never a good option. Even if you decide not to pay with your credit card, it is always a good idea to pay the bill. If you are finding it difficult to pay your credit card bill, it's probably a good idea to negotiate with your credit card company and ask `them to lower interest rates. 

Many people took to the comment section to share their situations, as one user wrote, "I just let mine go to collections then negotiated with the collections to pay $99 for a $900 debt. Then, six months later reopened my credit cards."

Another user commented, "Here's a cool truth. If you ignore them, let it go to collections. After a certain amount of time, it's written off. The calls will continue." A third user said, "Speaking from personal experience, they will sue you. As I found out painfully, this year."