Considering MMI program to pay of my debt. I was out on disability for about 10 months and had to use my credit card to make ends meet. I made 1 late credit card payment which then cause my interest to go up to 30%. I was paying more than minimal payment every month hoping to see the balance go down but that is not the case.
The problem with the MMI program is that they are proposing a 4 year repayment plan for a $4915.00 balance, with minimal payment of 121. While it sounds tempting, it seems like 4 years is too long to be in a another “credit” bind.
What are some other alternative that I may need to consider?
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