Occasionally, you may discover a billing error on your credit card or charge account, such as an incorrect amount or an item for which you were charged twice.

Missing a credit card payment may have serious consequences, especially if your balance is large. While paying only the "minimum amount due" each month will cost you substantial money over time in interest fees, skipping the payment entirely often triggers late fees or interest penalties.

Those who've exhausted all other solutions to solve their credit problems and have no expectation of being able to pay their debts may have to consider filing bankruptcy.