More and more young people swipe their credit cards, but they don't know that this will easily lead to their unrestrained consumption and eventually owe a lot of debts. According to relevant data analysis, 90% of young people are heavily in debt. Some people have a monthly salary of only 10,000, but they owe 200,000 credit cards. How many years will it take to pay off this situation? Although the monthly salary is 1 10,000, the debt is 200,000, which is not a small amount. Usually need to eat and drink and all kinds of daily expenses. After deducting these, the monthly salary is not much, so how long will it take to pay it off? Let's do the math.

Credit card revolving repayment

According to the credit card limit of 50 thousand, if you owe 200 thousand credit cards, then you have four or five credit cards in your hand. In the case of using multiple credit cards, you can return one of the credit cards by cashing in other credit cards, so that you can cash out circularly to avoid extra interest and late fees, and you can also pay off part of your monthly salary, so that you can pay it off in 2-3 years.

Credit card installment payment

Credit card arrears of 0.2 million/200 thousand mean that there is no way to pay off so many debts in a short time. The most cost-effective thing at this time is to apply for credit card installment. Under normal circumstances, the credit card can be divided into 24 installments at the longest. Repaying these arrears in installments can relieve some pressure and give the bank a certain interest every month. But if there is no installment method, banks need to calculate interest on a daily basis, and the longer it takes.

Mortgage repayment

If you have a house and a car, you can go to the bank to use the house and have a car mortgage, so you can get a handling fee from the bank, then pay off the credit card debt of 200 thousand, and then pay off the bank mortgage slowly every month, so it will be paid off slowly in almost two or three years.

In fact, it is not difficult to pay off the arrears of 200,000. After all, the monthly salary is 10 thousand. You can save a little at ordinary times and save unnecessary expenses. After two or three years of hard work, it is easy to pay off the arrears.