How is the amount of my payment determined?

By , Posted on Sep 14, 2015

Each of your creditors have different guidelines in regards to the minimum payment amount. Most creditors accept anywhere from 1.75% to 2.5% of your beginning balance as a minimum payment. For example, if your current balance on Credit Card A is $10,000 then your minimum payment on the debt management plan for Credit Card A would likely be between $175 to $250.

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