With interest, this debt
could cost you as much as:
*Based on minimum payments
and average interest rates.
1. Average Credit Card Interest Rate
As of April 24, 2024, we used average interest rates for each debt type based on industry standards: 27.89% for credit card debt (Forbes Advisor), 5% for tax debt, 0% for medical bills, 7% for bank loans, 391% for payday loans, 0% for collections accounts, 3.73% for federal student loans, and 9% for private student loans.
2. Partner Program Payment and Savings Overview
Projected savings are calculated at a 20% reduction of estimated credit card debt over a 48-month program. Fees, which vary between 14% and 29%, depend on your state and the program length. Actual program duration may differ based on the number of creditors included.
3. Savings Example Clarification
Savings projections assume a 20% reduction in total debt but do not factor in fees, which range from 14% to 29%, depending on state regulations and total enrolled debt.
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