Writes and edits PayoffPath. Not a lawyer, not a credit counsellor and not a financial adviser: the work here is reading the primary sources - the U.S. Courts statistics tables and the official bankruptcy forms, the CFPB, the FTC, the eCFR and the Federal Reserve - checking the date on every figure, and setting it out in plain English. There is no professional review behind these articles, and the site says so rather than implying a credential it does not have: where a decision turns on your own circumstances, the page points you to the court, the agency or the attorney that can answer it.
The rate gap is 10.29 points, and on twenty thousand dollars it is worth 2,373 over two years or 6,637 over five. A lower payment is not the same thing.
It combines debts into one payment and does not reduce what you owe. Whether it helps is one comparison, and the Federal Reserve measures both sides of it.
No federal program pays or forgives credit card debt. Here is what the bureau's own complaint file does contain: seven issue categories, 324,326 complaints, none of them a program.
Forgiveness is real, and every route to it costs something. Plus the federal record: 13,322 card complaints a year end with money back, against 410 collection complaints.
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