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Castle Law Office

Paying Off Your Credit Card Debt


Blog Category:
3/19/2013
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Credit Card Debt

If you've seen my latest commercial, you may have noticed it focuses on credit cards.

That's because credit cards are one of the big reasons people come to see our attorneys.

Amount of Time to Pay Off Credit Card Debt

In the commercial I say that if you have $10,000 in credit card debt, it can take 27 years to pay it off. That's if you're making the minimum payments. Even more surprising: due to interest, paying it off will cost you $21,000 instead of that original $10,000.

So $10,000 in credit card debt can follow you around for the rest of your life. And in many homes across America, $10,000 in credit card debt is nothing.

Whether because of unemployment, unexpected medical issues, family emergencies, or just some bad choices, many families have become dependent on credit and owe far more than 10K. As a result, they have debt they'll likely never pay off — even over 27 years.

This problem could last a lifetime and follow them around everywhere they go. While interest and penalties build up, the credit card companies could start calling angrily, wanting to know where their money is. They might sue to take from the family's wages.

Call us today at 816-842-6200 to speak with an attorney. Or you can email us and schedule your free consultation.



Category: Bankruptcy

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