Most Americans live with credit card debt and the recent crisis has had an adverse effect on the amount of credit available to the consumers. The companies have less credit to lend and thus money flow has been slow. Defaults on credit cards are happening as unemployment increases. You are in jeopardy if you are late by more than 30 days on a credit payment since the interest rates go up. It is highly likely that we may possibly not be able to pay the bills, with the ever increasing economic crisis. But off lately, the number of days for the non-payment has been hiked to 60 days. It is also possible to take a short term loan, to extend the period a little further. But be aware of the costs of this kind of loan!