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Debtonation
Description 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 todays 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 debts 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 dont like the pay off date, you can increase your monthly budgeted pay off amount until you are happy with the results.
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