Credit Card Minimum Monthly Payments

Unfortunately, millions of Americans who are struggling with their debts continue to just barely make their monthly payments. Most of these people just keep doing whatever they can to continue making minimum payments for the rest of their lives. If you are facing severe financial hardship, and making these minimum payments is making it difficult for you to make ends meet, then this is a no win situation. If you are only meeting your minimum payments, you are paying almost entirely interest charges; not paying down your debts.

This means that if you owe $10,000 today, it could cost you as much as $20,000 to $40,000 over the next 10-20 years before you are debt free.

If making your minimum payments and getting out of debt in a reasonable time frame is causing you a financial hardship, FDR's Debt Reduction Program can help you to negotiate reductions on your debts, find an alternative to bankruptcy, and come to an agreement with creditors on your terms, not theirs.

*Clients who make all their monthly program payments pay approximately 50% of their enrolled balance before fees, or 71% including fees, over 24 to 48 months. Not all clients are able to complete our program for various reasons, including their ability to save sufficient funds. Our estimates are based on prior results, which will vary depending on your specific circumstances. We do not guarantee that your debts will be resolved for a specific amount or percentage or within a specific period of time. We do not assume your debts, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Our service is not available in all states and our fees may vary from state to state. Please contact a tax professional to discuss potential tax consequences of less than full balance debt resolution. Read and understand all program materials prior to enrollment, including, for example, potential adverse impact on credit rating.