Ask Terry Questions Credit card debt

Credit card debt

By Terry Savage on May 20, 2023 | Credit/Debt

Hi Terry, my husband and I have a combined credit debt of $14k. We are making $1100 monthly payments. What is the fastest way to pay this off?

Terry Says

If you take the current monthly minimum payment, write that amount down, and pay DOUBLE that SAME AMOUNT every month, the card will be paid off in less than 3 years!
The more money you can pay, the faster you’ll get out from under high rates.

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