Monday, July 7, 2008

Credit Card Debt Analysis

Gee-ze-o! Look at these numbers, if I can command a higher salary today then I should. I am paying way too much interest.

Right now you are $3,886.23 in debt. If you continue to make minimum payments, it will take you 114 months to get out of debt. You'll pay $984.00 in interest.
If you make a one time payment of $1,000.00 today and you pay $200.00 a month, it will take you 22 months to get out of debt and you'll save $953.00 in interest.


Right now you are $7,344.77 in debt. If you continue to make minimum payments, it will take you 129 months to get out of debt. You'll pay $1,543.00 in interest.
If you make a one time payment of $600.00 today and you pay $370.00 a month, it will take you 22 months to get out of debt and you'll save $1,492.00 in interest.