For instance, a three year term might mean your
monthly payments are too
high, but a 10 year term would extend your repayment period for too long,
bringing up your interest.
$ 40,000 credit card debt - Turning 58 - Have good paying job - Faced recent financial challenges (medical / family assistance) over last 5 months - Have 10 credit cards (3 with
high balances, $ 15,000, $ 9,000 and $ 8,000)- Late
payments only to the above 3 credit card accounts (3 mos, 2 mos, 1 month)- Made recent
payments to 3 credit card accounts to
bring accounts to temporary favorable status - Mortgage current - Completed graduate degree but left to pay last year out of pocket when reimbursement program was greatly reduced - Consulted with debt management counselor to go on budget and work with creditors to be paid out of a single
monthly payment.