Monday, April 13, 2015

Do you know how long it will take you to pay off your credit card?

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Anyone who uses credit cards, and that is most of us, know that if you pay near the minimum, the debt never seems to go down. If you look at the payment schedule, you will see it will take years to pay off the debt with minimum payments while never adding anything to the card during the pay-off period.

I found an article to talk about the strategies to work on paying down your credit card debt: "How Long Does It Take to Pay Off $10,000 of Credit Card Debt?". It discusses a couple ways to work on your debt and definitely worth a try. Understand, these strategies will take time and, for many, most of their disposable income. If you read this article and think, "I don't have the disposable income to do this," you may want to consider bankruptcy.

If the ideas in the article seem out of your reach, read one of my previous blog entries: 
"Study [from the NY Federal Reserve Bank] shows Bankruptcy can give fresh start it promises". I have found in my practice, most people fully intended to pay their debts. Most of my clients have just hit hard times and they can no longer carry the debt they created. Above are two options to consider when you are having trouble with debt.

If you want assistance, legal representation, or just want to know more about Mark Medvesky or Medvesky Law Office, LLC, check out our website at

Previous Blog Entries:

Rebuilding credit after Bankruptcy...

When will I be able to buy a new home after bankruptcy?

You can overcome bankruptcy...

Debt What?

#bankruptcy #Chapter_7 #Chapter_13 #Montgomery_County #law_firm #Bucks_County #Pennsylvania #debt #settlement

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