What is the true cost of servicing debt?
Consider this, our standard file: $50,000 of credit card debt. If the person would like to pay the $50,000 off in 5 years, they would have to pay an estimated $1,541.67 per month for 60 months. Therefore, the total payback = $92,500 In order to pay back $92,500, one has to earn an estimated gross … Continue reading What is the true cost of servicing debt?