Credit Card Minimum Monthly Payments

Paying just the minimum can make it difficult to resolve debt

minimum payments

Unfortunately, millions of Americans who are struggling with their debts continue to just barely make their monthly payments. Most of these people just keep doing whatever they can to continue making minimum payments for the rest of their lives. If you are facing severe financial hardship, and making these minimum payments is making it difficult for you to make ends meet, then this is a no win situation. If you are only meeting your minimum payments, you are paying almost entirely interest charges; not paying down your debts.

This means that if you owe $10,000 today, it could cost you as much as $20,000 to $40,000 over the next 10-20 years before you are able to pay it off.

If making your minimum payments and resolving your debt in a reasonable time frame is causing you a financial hardship, FDR's Debt Reduction Program can help you to negotiate reductions on your debts, find an alternative to bankruptcy, and come to an agreement with creditors on your terms, not theirs.

 

See how much
you can save

  • Reduce your credit card debts
  • Get a low monthly program payment
  • Resolve debt in as little as 24-48 months

Get a fast & free savings quote online!

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*Clients who make all their monthly program payments pay approximately 50% of their enrolled balance before fees, or 71% including fees, over 24 to 48 months. Not all clients are able to complete our program for various reasons, including their ability to save sufficient funds. Our estimates are based on prior results, which will vary depending on your specific circumstances. We do not guarantee that your debts will be resolved for a specific amount or percentage or within a specific period of time. We do not assume your debts, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Our service is not available in all states and our fees may vary from state to state. Please contact a tax professional to discuss potential tax consequences of less than full balance debt resolution. If you have IRS debts, you need to expore tax relief alternatives.  Also explore debt relief alternatives such as debt consolidation, refinance and credit counseling to consolidate debt. Read and understand all program materials prior to enrollment. The use of debt settlement services will likely adversely affect your creditworthiness, may result in you being subject to collections or being sued by creditors or collectors and may increase the outstanding balances of your enrolled accounts due to the accrual of fees and interest.  However, negotiated settlements we obtain on your behalf resolve the entire account, including all accrued fees and interest.