Debtonation makes it easy
to input all of your debts, and calculate a pay off schedule
to get you out of debt as fast as possible. All you need
to do is budget how much money you can afford to spend on
paying off your debt each month.
Created to cope with today's multiple balance, introductory
rate, deferred interest credit cards and loans - Debtonation
determines which debts to focus your monthly budget on,
and calculates your financial freedom date
Features:
Enter as many debts as you need
Each debt can handle 6 different balances.
Introductory rates support
Support for deferred interest debts such as 6 months same
as cash.
Annual Fee support
Your minimum payments can adjust as the balance decreases
to focus your money on higher interest debts, or you can
lock them in for debts like car loans.
Payment period is adjustable (Weekly, Bi-monthly, and monthly)
Debtonation lets you specify the payment interval, and
monthly budgeted pay off amount. The program then determines
for each payment interval which debt's combined interest
rate is greatest. After making the minimum payments, the
leftover amount is then awarded to the highest interest
rate debts. The minimum payments are recalculated each month
based on the initial minimum payment to interest ratio.
If you don't like the pay off date, you can increase your
monthly budgeted pay off amount until you are happy with
the results.
