I am looking for a program or a method to pay off my debt in the most cost/benefit way. I need a program that can calculate both principle and interest payments, along with compounding interest.
I have debt on a 9.99% credit card
5.75% auto loan
4.5% student loan
Are any credit options available to refinance the 9.9% credit card?
I will need input for the normal payment amounts, then input for additional principle payments each month.
I want to figure how much I need to make to pay off the debt at a certain year.
Hello dave…
I want to know all of that info because I want to know 
I am going to build my own excel spreadsheet.
Also, debt consolidation does make sense.
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Sat, May 23, 2009
May 23rd, 2009 at 2:43 pm
sounds too complicated to me. not sure why you need all this info? what you need to do is get rid of the debt. pay it off. forget about interest rates, pay off debt in order smallest balance to largest. forget about refinancing… that solves nothing, you still have the debt!
to speed up your debt payoff date, sell stuff. take on extra jobs, work overtime… oh, and stop borrowing money… live on a budget within your means… below your means… any extra money you get put on the debt.
as you pay each debt off, you have more money you get to keep, and not send out to creditors.
May 23rd, 2009 at 2:43 pm
Practically any type of loan can be wrapped into the debt consolidation process. Common types include finance charges, late fees and overdraft charges, credit cards, personal loans, utility bills, medical bills, car loans, store cards, gas cards and back taxes.
http://www.worldbestloans.com/Loan-Consolidation.htm
Unlike bankruptcy, in which debts are cancelled and your credit rating collapses completely, debt consolidation loans are essentially a type of refinancing, where several old loans are replaced with a new one that has more favorable terms.