I subscribe to a lot of blogs relating to personal finance and bankruptcy law. And I’ve known about the www.Getoutofdebt.org for some time now. This website has a lot of information and advice for people with debt problems.
But I didn’t know about their debt calculator, which I just learned about today, and which I find extremely nifty.
Here is the Get Out of Debt Calculator. You basically need to type in each credit card balance, along with the name of the creditor and the interest rate on the account.
Once you click “calculate”, it will print out a summary for you, and give you choices and descriptions on debt settlement versus debt management (Consumer Credit Counseling) versus debt consolidation versus just making minimum monthly payments.
Okay, that’s it for today. Check out that calculator and bookmark it for the future!