How can my debts be paid within 3 to 5 years with lower credit card payments?
Substantial interest rate reductions allow for you to apply more of each payment toward the principal balance, even though the minimum credit card payments may have dropped. Your balances actually drop faster than if you were making normal minimum payments. This amount applied to principal increases each month as your finance charges continue to drop. The result is that your debt is eliminated within three to five years.
