I'm a bit confused. 37 years old and owes out $2000. He states that the credit card companies refuse to work with him.
On a revolving credit account, especially with today's lower interest rates, how much could the monthly payment possibly be?
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Robert, this has nothing to do with the present discussion but for a bit of information to all;

If one owes $1.000 to a credit card company and pays only the minimum amount every month at today's average interest rate, it will take 17 years to pay that $1,000 debt off completely.

If I remember correctly, a $5.000 debt paying the minimum amount per month will take 40 years to expunge.