How long does a payment-reduction process take?
For most people, payment-reduction takes between three and four years, but according to industry experts, roughly 35 percent of enrollees complete their payment-reduction plans within 10 to 24 months. Certain payment-reduction programs can be extended as long as five years depending on the situation. For more information, contact a credit counselor through the Association of Independent Consumer Credit Counseling Agencies (www.aiccca.org).