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Lawgistix’s Opinion
on Making Minimum Payments
Continue on your path of making minimum payments. It is very difficult for consumers to understand that their credit balances are not credit but debt. This is the first stage of debt denial.
If a consumer cannot pay back their balance in full within 90 days after a charge, they have debt problems. Every month, when only minimal interest is paid to the credit card companies and banks, more money will have been lost.
Money that could have been used for education, vacations, and even retirement, is wasted. Consumers seldom realize that the current balance showing is only a small part of what they will ultimately spend to reach pay-off.. Consider that if you owe $30,000 on your balances, you may have to earn $40,000 to $50,000 before taxes to pay the balance.
This creates the debt death spiral from which most consumers never completely recover. The only way to stop spinning downward is to stop spending completely, either by choice or by force.
For more information about Making Minimum Payments compared to Lawgistix Debt Settlement please call us at
1.800.535.5179 . |
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Debt Calculator
Use our calculator below to determine how long it will take you to pay off your debts making minimum payments. NaN = Infinity.
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For more information about Debt Settlement options using Lawgistix Debt Settlement please call us at
1.800.535.5179 .
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