*Total hours needed to pay monthly payment: $8.70
26.79% of your total hours worked in a month is going toward monthly interest.
Current Scenario | On Debtwave Plan** | Potential Savings | |
Monthly Finance Charges | $ 97.20 | $ 25.92 | $ 71.28 |
Monthly Hours Worked | 32.475 | 32.475 | 0 |
*Total hours needed per month to pay finance charges | 6.31 | 1.68 | 4.63 |
% of hours worked per month going toward finance charges | 19.44 % | 5.18 % | 14.25 % |
*Total hours needed assumes 30% of gross income is deducted for taxes and other reasons.
**On DebtWave Plan assumes the creditors offer an average APR of 8%. Our average APR over the last five years has fluctuated between 6-9%. Actual APRs vary from creditor to creditor