Negotiating Your Debt Without Hurting Your Credit

The following charts show how compounded interest affects the total amount consumer’s pay on unsecured debts. Use the balances that you owe and the interest rate you are currently being charged to find out what you pay and how long it will take, if you are only making the minimum monthly payments required. Don’t wait any longer. Millions of people are in the same situation and have taken action to get back on track. Consider using our referral service to find a credit card debt management program that can assist you with your financial goals.

10%
Amount Owed
Total Interest
Years To Payoff
Total Payback
$1,000
$277
5+
$1,277
$2,500
$1,027
9+
$3,527
$5,000
$2,277
13+
$7,277
$7,500
$3,527
15+
$11,027
$10,000
$4,777
16+
$14,777
$15,000
$7,277
18+
$22,277
$20,000
$9,777
20+
$29,777
$25,000
$12,277
21+
$37,277
14%
Amount Owed
Total Interest
Years To Payoff
Total Payback
$1,000
$459
5+
$1,459
$2,500
$1,771
11+
$4,271
$5,000
$3,959
15+
$8,969
$7,500
$6,146
18+
$13,646
$10,000
$8,343
20+
$18,334
$15,000
$12,709
22+
$27,709
$20,000
$17,084
24+
$37,084
$25,000
$21,459
26+
$46,459
 
18%
Amount Owed
Total Interest
Years To Payoff
Total Payback
$1,000
$731
7+
$1,731
$2,500
$2,981
14+
$5,481
$5,000
$6,371
20+
$11,371
$7,500
$10,481
23+
$17,981
$10,000
$14,231
26+
$24,231
$15,000
$21,731
29+
$36,731
$20,000
$29,231
31+
$49,231
$25,000
$36,731
34+
$61,731
22%
Amount Owed
Total Interest
Years To Payoff
Total Payback
$1,000
$1,205
8+
$2,205
$2,500
$5,330
20+
$7,830
$5,000
$12,205
28+
$17,205
$7,500
$19,080
34+
$26,580
$10,000
$25,955
37+
$35,955
$15,000
$39,705
42+
$54,705
$20,000
$53,455
46+
$73,455
$25,000
$67,205
49+
$92,205

These tables use annual compounded interest to determine the length of time and total paybacks of your debts. If your interest compounds monthly or daily, your payback will be slightly higher. Many credit card companies automatically increase your interest rate due to issues such as credit limits, late or missed payments, or failure to pay requested amounts due. This all affects your credit score. When you signed your credit card agreement, you authorized this increase if you did not adhere to the terms and conditions as stated in the fine print on your contract.

Please note these figures are based on a person making their required payment amount on time every month without being late or missing payments. The total payback amounts would be much higher once late fees have been added in with compounded interest. Credit card counseling can help reduce interest rates and increase the amount of each payment that goes towards paying off your total principle balance. And remember, you no longer need to be bothered with annoying phone calls. Get your life back now and call.