Do you want to know how much you are actually paying your creditors?
Although the minimum payment drops as your balance is paid, due to compounded interest, you are going to end up paying the debt for a very long time. Take a look at how much interest you will be paying for the life of the debt by using our debt calculator. By entering the required information, you will see the difference your payment can make on the lifetime of your debt.
Types of Debt Calculator
1) Debt Income Ratio Calculator:
Debt to income ratio may be defined as the monthly debt obligations (total) to the monthly income (total) of an individual. The calculation is made depending on the individual’s liabilities as well as current income.
This debt calculator helps a lender in estimating the debtor’s repayment capacity. Thi
Debt counseling involves working with a credit counseling service, which is a private company that can work with your lenders on your behalf to consolidate and, ultimately, reduce your debt. Lenders provide some of the funding for credit counseling agencies to keep borrowers from defaulting on their loans when there’s no other option. Many credit counseling agencies belong to a non-profit organization such as the National Foundation for Credit Counseling, which encompasses 850 counseling agencies throughout the United States.
Effects
The primary outcome of credit counseling is an opportunity to reduce your debt. While lenders are unlikely to forgive money you own, they may be willing to offer you a reduced interest rate, which will lower your monthly payments and save you money in the long term. Credit counselors can also ask lenders to give you a forbearance, which means you won’t have to make payments for a set period of time.
ABC – The Making Home Affordable Program was supposed to help many qualified homeowners save their homes by lowering their payments. Instead, the program led many Utahns deeper into debt, and foreclosure for some.
Peggy Merrill of Albany didn’t start out to be an activist. She doesn’t consider herself one now.
Still, she is actively trying to bring attention to what she believes are serious problems connected with banks administering the federal Home Affordable Modification Program. She is hoping people will respond to two days of rallies scheduled to begin at 9 a.m. today, and Saturday at the Capitol building in Salem.
HAMP was started in March 2009 to help people facing foreclosure keep their homes. “I got involved when friends in Stayton got tangled up in the process,” she said. “They did everything right and out of the blue they were foreclosed on.”
A paralegal, Merrill began researching the HAMP program, specifically the case of her friends, Harry and Judy Stratton, who are helping organize the rally.
— Jonathan Langham @ 1:14 am — 
November 4, 2010