$10,000 Credit Card Payoff
THE TRUE COST OF INTEREST
Let’s check out the credit card calculator at https://www.bankrate.com/calculators/credit-cards/credit-card-payoff-calculator.aspx
If you have 10,000 total unsecured debt.
And your average interest rate is 18%.
and credit card debt is calculated at all interest plus a percent of the principal,
let’s say your payment is figured at 3% of the principal.
and your minimum payments total $300.
It will take you 245 months to be rid of your debt. In that time, you will pay $ 9,698.32 in interest.
Total is $19,698.32
Looking at the payment schedule you would be paying half of the payment in interest.
And after 2 years you still owe $6,957.76
What if your payment is lower?
Let’s look at that.
What if your payment is figured at 2.5% of the principal and your monthly payment is only $250.
You get the illusion that you are spending less but.
It will take you 342 months to be rid of your debt. In that time, you will pay $ 14,423.16 in interest.
Total $24,423.16
Looking at the payment schedule:
After 2 years you still owe $7,856.76
This only applies if you never charge anything again. Needless to say, if you keep charging you just stay in debt.
On a debt settlement program, with $10,000 debt and a $300 monthly payment, you could erase all that debt in just 29 months.
Financial stress can be hard on you and everyone around you.If debt-related stress is causing a hardship for you then we can help.
Get out of debt fast save a bundle of money on interest without making any extra payments.
Where do you want to be at financially, in 29 months?
Still deep in debt or debt free and stress-free?
Terms are flexible.
877-850-3328 ext 107
http://californiadebtreliefreviews.org/
