Consolidating credit card debt calculator
Because there is no general industry consensus as to what the best ways to manage debt are, we have narrowed down your options.
Many of these options work hand in hand with or as part of a larger debt reduction program, but in general, these are your choices: Debt Settlement: Settlement is the process of negotiating with your creditors in hopes of reducing the total amount of debt you owe them.
Your repayment will never be more than your closing balance.
Before spending hours searching for the most affordable debt consolidation loan, you should save your time and money by applying with P2P Credit.
Freedom Debt Relief is also one of the industry leaders, and it offers some of the highest quality customer service.
This calculator is based on making the minimum repayment amount at a 18% interest rate.
Minimum repayments are calculated as a percentage of the closing balance, typically 2 or 2.5%, or a set dollar amount, usually around , whichever is greater.
Lower interest rates allow you to more quickly pay off your debts.
These debt relief programs don’t have a negative impact on your credit but may limit your credit options for their durations.