# As Total Credit Card Debt Surpasses \$2 Trillion, a Free Software Tool Shows Consumers the Quickest Way Out of Debt

## According to the Federal Reserve Board, total U.S. consumer debt (credit cards plus car loans) recently passed the \$2 trillion mark, averaging out to \$7,296 per person.

According to the Federal Reserve Board, total U.S. consumer debt (credit cards plus car loans) recently passed the \$2 trillion mark, averaging out to \$7,296 per person. While getting out of debt will never be painless, a free downloadable computer program called Credit Card Math from ZilchWorks (http://www.zilchworks.com) enables consumers to figure out the most effective yet affordable way to work free of the debt, paying significantly less interest.

ÂMost people donÂt have the faintest idea how much interest they wind up paying if they pay only the minimum amount shown on their monthly credit card statement,Â says Michael J. Riley, creator of Credit Card Math. ÂFor instance, at an interest rate of 17.9%, the current average consumer debt of \$7,296 per person, paid off at \$200 a month, would cost more in interest charges - \$8,304 - than the original debt. And it would take more than 22 years to get rid of that debt. By using Credit Card Math, though, they can see how to save a whopping \$4,988 in interest.Â

Since Credit Card Math software was introduced ten years ago, Riley, a retired U.S. Marine Corps Gunnery Sergeant, has received countless thank-you letters from all over the world. In addition to Credit Card Math, Riley sells a do-it-yourself debt reduction program that helps users develop their own plan for becoming debt-free.

A free downloadable program for Windows XP, 2000, NT, ME, 98 and 95, Credit Card Math helps the user understand the most common credit card traps, calculate the best way to manage and pay off multiple credit cards and see the effect over time of adding just \$5 extra to each payment.

Contact:

Michael Riley

508-776-4825

rileymj@zilchworks.com

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Michael Riley