What happens when you are in a nursing home and can longer pay your credit cards?

Short-term impact:

* Credit score drops. When you miss payments on your credit cards, your credit score will start to drop. This can make it difficult to get new credit or loans in the future.

* Late fees and interest charges. You will likely be charged late fees and interest charges on your missed payments. These charges can add up quickly and make it even more difficult to pay off your debt.

* Collection calls. If you don't make payments on your credit cards, the creditor may eventually send your account to collections. This can result in harassing phone calls and letters, and it can also damage your credit score.

Long-term impact:

* Difficulty getting new credit or loans. A low credit score can make it difficult to get approved for new credit cards, loans, or mortgages. This can make it difficult to finance a car, buy a home, or start a business.

* Higher interest rates. If you are able to get approved for new credit, you may be charged higher interest rates than you would if you had a good credit score. This can make it more expensive to borrow money.

* Difficulty renting an apartment or finding a job. Some landlords and employers may check your credit score before renting you an apartment or offering you a job. If you have a low credit score, you may be denied housing or employment opportunities.

What you can do if you can't pay your credit cards:

If you are struggling to pay your credit cards, there are several things you can do to try to resolve the situation.

* Contact your creditors. Explain your situation to your creditors and see if they are willing to work with you to lower your interest rates or create a payment plan that you can afford.

* Get help from a credit counseling agency. A credit counseling agency can help you create a budget and negotiate with your creditors on your behalf.

* Consider bankruptcy. Bankruptcy is a legal option that can help you discharge your debt. However, bankruptcy can also have serious consequences, so it's important to speak with a bankruptcy attorney before filing for bankruptcy.