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It is a tool to help a consumer reduce the interest rate they are currently paying and compare it to a lower rate and what they will pay under a revised loan. It can let them know the amount of debt they can afford if they wish a large purchase such as a home.

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14y ago

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What does a debt payoff calculator do?

A debt payoff calculator can help you to find out how long it will take to pay of any debt you have. The following website offers an easy to use debt calculator,http://www.bankrate.com/calculators/credit-cards/balance-debt-payoff-calculator.aspx


Where can one find a debt payoff calculator?

There are several sites online where one can find a debt payoff calculator such as Bank Rate, Credit Karma, and bank of America. There are also some books on how to calculate debt payoff such as Live Debt Free and The Total Money Makeover.


How to use a debt payoff calculator?

To use a debt payoff calculator you must enter your credit card numbers and how much the balance on them are. You must then enter your charged interest rate and what your minimum monthly payment is. You then choose a plan to pay off your debt in an affordable and convenient way for you and your family. http://cgi.money.cnn.com/tools/debtplanner/debtplanner.jsp


Accelerated Debt Payoff?

Accelerated Debt Payoff Consolidating your debt is only half of the battle. You still need a plan to get your debt paid in full. This calculator can show you how to accelerate your debt payoff. The process is simple; just apply a portion of your consolidated loan's monthly payment savings to the consolidated loan's balance. You can save hundreds, even thousands in interest and shave years off of your loan!


Where can I find an early mortgage payoff calculator?

If you have a mortgage account then there will be a mortgage payoff calculator for you to use to determine what the early payoff quote would be. I would try that.


For what reasons is a debt to income ratio calculator number used?

A debt to income ratio calculator is used to measure your income against your debt to see if you can afford a loan.


Where can you find an online calculator mortgage payoff for single family homes?

You can find an excellent mortgage payoff calculator at Bankrate's website. Their mortgage payoff calculator lets you add the number of years reaming in your mortgage along with letting you add the mortgage amount as well as the annual interest rate. These are just some of the features that are offered in there mortgage payoff calculator.


Student Loan Consolidation and Debt Payoff Calculator?

Student Loan Consolidation and Debt Payoff CalculatorThe Student Loan Consolidation and Debt Payoff Calculator applies two simple principles to paying off high-interest debt.Consolidate your existing student loansUse your extra cash every month to pay off your higher interest debt soonerWe apply the amount of payment savings you choose to your non-student loan debt with the highest rate. When that balance is paid in full, the balance with the next highest rate will be paid down. This continues until you have rolled through all of your balances and your non-student loan debt is paid in full. Click the "View Report" button for a detailed look at the results.


How do I understand and use a debt repayment calculator?

There are several internet sites with debt calculators available. Bankrate.com has one specific for credit cards: http://www.bankrate.com/calculators/credit-cards/credit-card-payoff-calculator.aspx. Dave Ramsey's site also explains a common method used to repay debt http://www.daveramsey.com/article/get-out-of-debt-with-the-debt-snowball-plan/.


What website has a usable loan payoff calculator?

There are many places to find a loan payoff calculator for a bank that can be refereed to your clients. Sites like calculatorsoup offer many financial calculators that can help you determine your payoff.


Debt payoff good or bad?

Good


Where online can I find a loan payoff calculator?

You can go to the site calculator.bankrate.com. It will show you a free loan payoff calculator on their site and you can use it. Just type in your loan information and do it!