There are many people in the U.S. and no doubt worldwide that are overwhelmed with credit card debt, most of whom are only paying their minimum payment amounts every month and who feel as if they'll never get out from under their debts. It certainly is true that if you only pay the minimum amount due every month you can be paying only the interest on your credit card debt and are not making any progress toward the principle, or the actual amount owed. This means that it can years and years to pay down that amount, if it ever gets paid at all.
Last Updated on Friday, 15 May 2009 13:55
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