When we began Seattle Bites Food Tours in 2008 we wanted to select those âhidden gemâ merchants who had outstanding food and who many visitors might not easily find among the crowds on a busy day at Pike Place Market.
The credit card companies have six years to collect a debt. The time starts when the credit cards make their last entry on your credit report. It is not your last payment as credit cards will continue to show late charges and interest penalties.
So after you send your first $60 payment to your $3,000 credit card bill, you will still owe $2,976. If you only pay your minimum balance due each month (2% or $25 minimum), it will take approximately 16 years to pay off your $3,000 debt.