Do you have an effective debt repayment plan in place?
Managing debt is never easy, especially for students and recent graduates, many of whom are financially inexperienced. If getting a handle on your debt load is one of your 2013 resolutions, you’re in luck.
This debt payoff software is built on four major points: Plan, Pay, Track, and then Relax.
You input all of your debts, interest rates, payments, and accounts. The company helps you put together a plan to pay off that debt as quickly as possible and then to track your progress.
To help visualize your path to success, you get a page with sliders where you can set how much per month you want
to pay or a deadline for when you want to be out of debt. As you move those
sliders around, numbers change automatically, showing you the effects that your
choices might have.
You can go once step further, if you like. Once you have the plan set up you can send payments directly to specific creditors (not, as yet, in Canada, however).
Do you have a debt repayment plan? Back of the envelope or have you used some sort agreegation tool to help get organized?
By Gordon Powers, MSN Money