The calculator will compare scenarios across four debt relief options: sticking to the minimum payments, debt consolidation loans, credit counseling, and what National Debt Relief has to offer: debt settlement.
Miami, FL (PRWEB) April 27, 2013
American Fair Credit Council (AFCC) member, National Debt Relief, is proud to announce the newest tool that debt ridden individuals can use to help them make better decisions about their debt relief options.
The leading debt relief company came up with this tool to help struggling Americans get a visual analysis of the different debt relief types that can be chosen. The calculator will compare scenarios across four debt relief options: sticking to the minimum payments, debt consolidation loans, credit counseling, and what National Debt Relief has to offer: debt settlement.
The free debt calculator is a simple tool that the company wishes to share to their website visitors. Using the knowledge derived from the thousands of debtors that have become their clients, the debt relief company created the calculator to display four different data:
1. Total amount paid
2. Total interest paid
3. Monthly payment
4. Number of months to pay off
The company observed that these are the primary concerns of people in debt. These four are shown in charts so users can compare their options. This data is meant to help them choose the right debt relief path.
By encoding a few details, they will see various data analysis that will allow them to choose the right debt solution that will give them debt freedom. It also provides a general view of the debt to income ratio of the debtor so they can gauge how risky their financial situation is.
Of course, the debt calculator is displayed with the instructions on how it is to be used. National Debt Relief made sure that the tool will be very user friendly and easy to understand.
To use the calculator, three information is needed: the total amount of unsecured debt, average interest and the desired program length.
For the total debt, the instructions remind users to input only unsecured debt like credit card debt, medical bills and personal loans. This means home loans, student debt and other secured loans should not be included. The total amount of the unsecured debts should be placed on the text box indicated on the site.
To get the average interest rate, the website provides the formula that includes getting the total APR of the debt and dividing it by the number of interest rates.
Lastly, the desired length of the debt payment program has to be written in months.
When all of the data is encoded, pressing the calculate button will trigger the computation and will display 4 different charts as mentioned earlier. All of these data are provided by National Debt Relief so the average consumer can understand the odds of what they have to face to solve their debt problems.
To test the debt calculator, visit http://www.nationaldebtrelief.com/debt-calculator/.
To know more about what debt settlement can do for consumer debt, visit the National Debt Relief website.