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Debt Information

How Long Will It Take To Pay Off Credit Cards with Just Minimum Payments?

If you’re only paying the minimum on your credit cards, it could take decades to become debt-free—and cost you thousands in interest.
The chart below shows how long it could take based on your balance, assuming a typical interest rate and minimum payment.

$10,000-$26,276.59-42 yrs 9 mos

$45,000-$169,933.22-65 yrs 6 mos

$15,000 – $55,370.41 – 48 yrs 11 mos

$50,000 – $189,027.02 – 67 yrs 1 mos

$20,000 – $74,464.22 – 53 yrs 3 mos

$60,000 – $227,214.61 – 69 yrs 10 mos

$25,000 – $93,557.98 – 56 yrs 7 mos

$70,000 – $265,402.22 – 72 yrs 2 mo

$30,000 – $112,651.77 – 59 yrs 4 mos

$80,000 – $303,589.81 – 74 yrs 2 mos

$35,000 – $131,745.58 – 61 yrs 8 mos

$90,000 – $341,777.43 – 76 yrs 1 mos

$40,000 – $150,839.39 – 63 yrs 9 mos

$90,000 – $341,777.43 – 76 yrs 1 mos

You do have rights to protect you from predatory practices that some third party collection agencies use to collect bad debts. In order to protect consumers from such practices, the Federal Trade Commission (FTC) has published the Fair Debt Collection Practices Act (FDCPA). The FDCPA requires that debt collectors treat you fairly and prohibits certain methods of debt collection. Of course, the law does not eliminate the debt you owe. You are still responsible to repay these debts but the FDCPA governs the way collectors deal with you.

Some restrictions on collection practices by the
Fair Debt Collection Practices Act:

Note: Consumer Debt Help Association is not a law firm and does not provide legal advice, we are simply summarizing
information located online. If you have a legal question consult an attorney.

Harassment

Debt collectors may not harass, oppress, or abuse you or any third parties they contact. For example, debt collectors may NOT: use threats of violence or harm; publish a list of consumers who refuse to pay their debts (except to a credit bureau) use obscene or profane language; or repeatedly use the telephone to annoy someone.

False Statements

Debt collectors may not use any false or misleading statements when collecting a debt. For example, debt collectors may not: falsely imply that they are attorneys or government representatives; falsely imply that you have committed a crime; falsely represent that they operate or work for a credit bureau; misrepresent the amount of your debt; indicate that papers being sent to you are legal forms when they are not; or indicate that papers being sent to you are not legal forms when they are.

Threats

Debt collectors may NOT state that you will be arrested if you do not pay your debt or that they will seize, garnish, attach, or sell your property or wages, UNLESS the collection agency or creditor intends to do so, AND it is legal to do so. They are also prohibited to state that actions, such as a lawsuit, will be taken against you, when such action legally may NOT be taken, or when they DO NOT intend to take such action.

False Information About you

Debt collectors may NOT give false credit information about you to anyone, including a credit bureau; send you anything that looks like an official document from a court or government agency when it is not; or use a false name.

Unfair Practices

Debt collectors may NOT engage in unfair practices when they try to collect a debt. For example, collectors may NOT: collect any amount greater than your debt, unless your state law permits such a charge; deposit a post-dated check prematurely; use deception to make you accept collect calls or pay for telegrams; take or threaten to take your property unless this can be done legally; or contact you by postcard.

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Debt Information

$10,000-$26,276.59-42 yrs 9 mos

$45,000-$169,933.22-65 yrs 6 mos

$15,000 – $55,370.41 – 48 yrs 11 mos

$50,000 – $189,027.02 – 67 yrs 1 mos

$20,000 – $74,464.22 – 53 yrs 3 mos

$60,000 – $227,214.61 – 69 yrs 10 mos

$25,000 – $93,557.98 – 56 yrs 7 mos

$70,000 – $265,402.22 – 72 yrs 2 mo

$30,000 – $112,651.77 – 59 yrs 4 mos

$80,000 – $303,589.81 – 74 yrs 2 mos

$35,000 – $131,745.58 – 61 yrs 8 mos

$90,000 – $341,777.43 – 76 yrs 1 mos

$40,000 – $150,839.39 – 63 yrs 9 mos

$90,000 – $341,777.43 – 76 yrs 1 mos

Some restrictions on collection practices by the
Fair Debt Collection Practices Act:

Harassment

False Statements

Threats

False Information About you

Unfair Practices

Consumer Debt Help Association does not provide Credit Repair services.

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Save Money & Get Out Of Debt!

Debt Information

$10,000-$26,276.59-42 yrs 9 mos

$45,000-$169,933.22-65 yrs 6 mos

$15,000 – $55,370.41 – 48 yrs 11 mos

$50,000 – $189,027.02 – 67 yrs 1 mos

$20,000 – $74,464.22 – 53 yrs 3 mos

$60,000 – $227,214.61 – 69 yrs 10 mos

$25,000 – $93,557.98 – 56 yrs 7 mos

$70,000 – $265,402.22 – 72 yrs 2 mo

$30,000 – $112,651.77 – 59 yrs 4 mos

$80,000 – $303,589.81 – 74 yrs 2 mos

$35,000 – $131,745.58 – 61 yrs 8 mos

$90,000 – $341,777.43 – 76 yrs 1 mos

$40,000 – $150,839.39 – 63 yrs 9 mos

$90,000 – $341,777.43 – 76 yrs 1 mos

Some restrictions on collection practices by the Fair Debt Collection Practices Act:

Harassment

False Statements

Threats

False Information About you

Unfair Practices

Consumer Debt Help Association does not provide Credit Repair services.

Website By:

Save Money & Get
Out Of Debt!

Some restrictions on collection practices by the
Fair Debt Collection Practices Act: