I have $100k cc debt, a car all paid which worth $8k,1st and 2nd mortgages. I lost my job a year ago and I have been using my 401k to survive my home, wife and 2 young kids. I have not miss a single payment and have no late payments, yet my credit score went down from 810 to 600 in few months and all cc companies raised their interests from 4 - 5 % to 19% to 30%. My monthly cc payments reached up to $2500. My wife also lost her job and I have four months of money left to survive.