If you find yourself in a credit hole, only make the minimum monthly payment until you are out of debt.

Name: If you find yourself in a credit hole, only make the minimum monthly payment until you are out of debt.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Only making minimum monthly payments will prolong the time it takes to pay off debt and result in paying more in interest. It is important to pay more than the minimum and work on a plan to pay off debt as soon as possible.

If You Find Yourself in a Credit Hole, Only Make