Los Angeles, CA (PRWEB) July 20, 2011
Because no two debt situations are alike, GetDebtRelief.com has created a unique debt calculator widget that allows the user to customize and create a debt relief scenario that meets their specific requirements.
Although GetDebtRelief.com offers eight comprehensive debt payoff calculators that can be applied to numerous situations, the debt calculator widget allows the user to not only calculate debt payoff on all loans but also determine the impact of loan payoff through loan consolidation, making the minimum payments or going with an accelerated loan payoff plan.
The user begins by inputting all debts into the widget including credit cards, auto loans and “other” loans (such as mortgage, tuition or personal loans). The widget can accommodate numerous debt under one heading, such as several credit cards, auto loans and any other outstanding loans.
To effectively use the widget, the user must know their current balance, rate and how much they currently pay on each loan. In fact, if you are not paying the minimum balance, Get Debt Relief will notify you as you input your information.
As the user compiles loan information on the widget, the total amount adds up on the screen, which allows the debtor to see exactly how much he or she owes and should be paying each month to effectively be covering the debt.
Once all loan information has been inputted and the user hits, “calculate” and a comprehensive evaluation is revealed that includes:
- Current debt owed
- Current monthly payment versus what the user could pay with loan consolidation, an accelerated loan payment or the bare minimum
- The current interest rate versus the rate that could be achieve with loan consolidation or an accelerated loan
- Difference in interest paid on the current loan versus loan consolidation, accelerated loan or by just making the minimum payment
- The amount of time it will take to pay off loans in all categories
The widget also creates a personalized debt pay off calculator graph and fully comprehensive amortization schedule comparing the user’s options. This provides the user with not only a breakdown of payment overall, but a way to compare payments over time.