SPENDING PLANS & BUDGETING
REPAYING CREDIT CARD DEBT
UNDERSTANDING YOUR CREDIT REPORT
HOW IT WORKS
AVERAGE PAYMENT EXAMPLE
Minimum Payment Only
Starting Balance $12,000
Interest Rate 21%
Minimum Monthly Payment $340
Number of Months to Pay Off Debt 230
Interest Paid $15,895
WITH CCCF'S DMP
Base on Average Program Benefits
Starting Balance $12,000
Interest Rate 6%
Minimum Monthly Payment $250
Number of Months to Pay Off Debt 58
Interest Paid $1,843
Total Interest Savings: $13,385.66
Total Time Savings: 172 Months (Nearly 14.3 Years!)
Example based on typical program benefits - actual benefits and terms will vary based on your creditors and financial situation. Average program completion time is only 48 months.