What happens if a retiree stops paying credit card debt?

Stopping credit card payments in retirement can trigger consequences that deeply impact your financial stability. mesh cube/Getty Images

There's a common assumption that once someone retires, the rules around debt somehow soften. After all, retirees often live on fixed incomes, are typically no longer working and may rely heavily on Social Security to cover their major costs. But as everyday expenses increase in price due to inflation and credit card rates remain stubbornly high , more Americans, and many older adults, in particular, find themselves choosing between covering their essentials and keeping up with mounting credit card balances. When the math no longer works, though, missed payments can quickly follow .

That's an issue for many retirees right now. Nearly h