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7 signs you have too much debt

Debt.com Logo By Deb Hipp of Debt.com | Slide 2 of 8: If all you can afford to pay every month is your credit card minimum payment, which barely covers interest, you probably have too much debt. Even worse, paying only the minimum each month can add years to the debt payoff date.
Consumer law requires credit card companies to disclose on statements the number of months it will take the cardholder to pay off the balance and the total amount paid if making only minimum payments. [1] Want to reduce debt more quickly? Always pay more than the minimum monthly payment due.
If you know you're carrying an overwhelming debt load find out, How to Get Out of Debt. 

You can afford to make only minimum payments

If all you can afford to pay every month is your credit card minimum payment, which barely covers interest, you probably have too much debt. Even worse, paying only the minimum each month can add years to the debt payoff date.

Consumer law requires credit card companies to disclose on statements the number of months it will take the cardholder to pay off the balance and the total amount paid if making only minimum payments. [1] Want to reduce debt more quickly? Always pay more than the minimum monthly payment due.

If you know you're carrying an overwhelming debt load find out, How to Get Out of Debt

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