|
The following table illustrates three potential debt reduction options to reduce debt of $20,000. Credit card debt reduction is possible in several ways. You can reduce debt by paying off your creditors on your own. If you cannot afford this, other debt reduction options include credit counseling, debt settlement, and bankruptcy. Our debt reduction plan will reduce debt more quickly than credit counseling by actually lowering your principal, not just your interest rates. With our debt reduction plan, you repay your creditors what you can afford. Bankruptcy is a last resort that should be avoided if you can reduce debt through another of the debt reduction options.
The actual results of our debt reduction plan may vary depending on creditors and your ability to make payments.
| Here is what you will pay.. |
|
|
At avg. interest rate of 18% |
|
With a typical Credit Counseling Service |
|
 |
| Months to pay off debt: |
|
451 |
|
58 |
|
36 |
| Interest you end up paying: |
|
$29,404.55 approx. |
|
$6,239.75 approx. |
|
$0.00 |
| Your total cost: |
|
$49,404.55 |
|
$26,239.75 |
|
$12,800.00 |
| Your monthly payment: |
|
Variable |
|
$467.00 |
|
$345.71 |
You save:
Off your current debt:
Versus present rate: |
|
|
|
|
|
$7,200.00
$36,604.55 |
To calculate what you could save with our debt reduction plan, utilize our debt calculator.
|