Finn

This calculator compares the cash flow of paying off credit card debt over time versus saving up to settle it for a lump sum. It’s a helpful starting point if you’re overwhelmed by payments and considering debt settlement. However, keep in mind that the math excludes the severe damage to your credit score, the potential for being sued by creditors, and the fact that forgiven debt is often taxable as income. You'll want to weigh those significant real-world consequences alongside the projected cash savings before making a final decision.

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