Undebt.it User Guide
Contents
1. Uy undebtit WEBSITE USER GUIDE Undebt it User Guide May 2015 Version 1 0 undebtit USER GUIDE Undebt it is an online mobile friendly debt management tool There are various payment methods which can be very effective ways to get out of debt This website will calculate the most effective way to get you out of debt and save you the most money Get control of your debt today by signing up for an account This user guide will help you get started by going through the entire process step by step Here are just a few of the features that Undebt it has to offer User guide provided at no charge by Undebt it Multiple payoff plans including custom plans Debt Snowflake additional payment support Add unlimited debt accounts Sortable amp exportable payment history per debt account Summary view with projected payoff date amp total interest No personal information or links to your banking accounts Responsive design works on all major web browsers tablets and phones Did I mention it s completely free undebDtit USER GUIDE Table of Contents 1 hees iere er ee E 4 2 Cene SE A eee eee cere cere eet 4 e EE OT ECC CC ONE E 4 2 2 Adding New Debt Account INfOTMATCION ENEE 5 vide ome 68 1 V gad De 8 I aa rent tne A E Serene mes tCreTn AA A te nero en ner tr nar reese eC E a emt 5 Zi vrai ATION COTTE ACC OVA SC CLINGS a 6 Ae NIV AMEN UNS PAE A AEE A NA A EN A EE ET A N A A AE E E A 6 EE EE Eeer 7 3 G2. Credit card line unsecured Current Balance Highest Beginning Balance Minimum Payment Credit Limit Interest Rate Next Due Date 2015 05 04 i Save Info The Highest Beginning Balance field refers to the highest balance that you ve carried on this debt it s used to calculate your overall payoff progress percentage If you don t know what that amount is just leave it blank and it will be treated as the beginning balance 2 3 Your Debt List The Debt List is a list of all of the debt accounts you have loaded into Undebt it It shows the description balance interest rate monthly payment monthly interest accrued whether the account is active or inactive the next due date and finally the projected payoff date User guide provided at no charge by Undebt it 5 EDN Getting Started Creditor Monthly onka Balance Int Rate Payment int Status Due Date Paid Off Bank of PEER 5 701 23 12 99 65 00 61 72 2015 05 07 2016 01 Barclays Bank 7 000 00 17 90 300 00 104 42 Active 2015 05 01 2015 11 Capital One 11 571 05 18 00 343 00 173 57 Active 2015 05 06 2015 09 Chase 4 305 99 11 00 186 00 11 66 2015 05 10 2016 02 Countrywide 204 699 79 4 88 1 693 08 832 45 2015 05 15 2024 01 Discover 8 724 24 0 00 112 63 0 00 2015 05 01 2016 07 First Bank 13 219 45 9 00 264 00 99 15 Active 2015 05 03 2016 05 gue 255 221 75 1 270 63 450 52 Paid off Notice how the debt description has red text and turns under
3. 26 45 Snowball Amt 2 321 eee a a eo BP e e O The last graph shows you what lays ahead for your current payment plan It shows the same four buckets as the second graph but these are the projected future amounts rather than historical amounts Notice that there are three spikes in the example graph these are additional payments debt snowflakes that have been scheduled in the future 5 3 Debt Restructuring amp Account Consolidation premium feature he Debt Restructuring amp Consolidation page is a powerful tool that can be used to simulate how restructuring or consolidating your existing accounts affects your payoff date and the amount of interest paid There are a two main ways this form can be used 1 Consolidations You will be able to see how consolidating one or more debt accounts into a single account with different terms will benefit you A mortgage for example If you have one or more existing accounts that will be paid off by taking a new loan mortgage check the boxes on the accounts that will be paid off by the new loan Then enter the terms of the new loan in the Restructured Account Info section 2 New loans Use this method if you want to see how your current payoff date will be affected if you take on a new auto loan for example If you want to see how a new loan will affect your payoff date leave all of the checkboxes on the left unchecked and ju
4. RATE TOTAL INTEREST 2 03 4 245 MONTHS TO PAYOFF PAID OFF 43 Sep 2018 Other users on this plan 2 8 The custom payoff methods are controlled by the Payoff Order field on the Account Details page just click on debt name to get there NO SNOWBALL ds 71 020 Total Paid AVG INTEREST RATE TOTAL INTEREST 1 81 15 629 MONTHS TO PAYOFF PAID OFF 177 Nov 2029 Other users on this plan 0 2 This is how much wil cost you if you only pay the minimum payments and nothing extra Don t ever do this knucklehead The method you have selected to use will be highlighted in maroon Notice how similar the results of the payoff methods are they will each get you out of debt within a month of each other in the example above Compare that to the black cell no snowball just paying the minimums This reinstates the fact that it doesn t really matter which plan you use as long as you pay extra each month User guide provided at no charge by Undebt it D 21 Advanced Features 5 6 Account Autopay premium feature You have the option to set each account to automatically record your monthly payments autopay This option is set on the debt details page of the debt account Checking the Autopay box enables the function custom plans Reminder Days for sms tet reminders ah ah 2 Payoff Plan x Delete Account Using autopay allows you to keep current on your accounts without the need to login and manually r
5. ailed graph information Historical Information amp Debt Distribution 60 000 45 000 i l Apr 15 7 Credit 18 154 4 Auto Loan 6 786 59 401K Loan 31 996 o iilii 0 May 12 Oct 12 4 Apr 15 Mar 13 Aug 13 Jan 14 Jun 14 Nov 1 The first graph shows your debt account type distribution by month Each bar represents a single month Each color on the bar represents a different type of debt unsecured credit auto loan etc This graph shows you your progress over time and can be an excellent motivational tool to help keep you going on the right track Historical Monthly Stats 4 000 2014 10 01 e 3 000 Total Interest 207 Minimum Pmts 1 758 Snowball Amt 362 2 000 2 amta 9 EE pomenem D ggg p 0 E aa a O 1 000 we E 0 9 9 6 9 9 0 e e e e e a memo TTT Et Ek Kl kend eg geg Ba NW gt o e o 6 9 dl d 8 e e nf rn Ban fer 2 2012 05 2012 09 2013 01 2013 05 2013 09 2014 01 2014 05 2014 09 2015 01 2015 05 The second graph shows you the totals for four different monthly buckets total interest paid total of the minimum payments total snowball amount and finally your total monthly payments The main goal is to keep the total interest line headed in the downward directions towards zero User guide provided at no charge by Undebt it 16 Advanced Features Projected Monthly Stats e A RY e we 8 2015 10 01 t Total Interest 1
6. ayment plan along with your regular payments After you click the Save Snowflake button you ll see your newly created debt snowflake added to the list at the bottom of the page If you would like to remove a debt snowflake just click on the Delete button to the right You don t need to delete the snowflakes that have occurred in the past the payoff plan only looks at snowflakes in the current and future months User guide provided at no charge by Undebt it 14 Advanced Features Note You can create more than one snowflake per calendar month if you like For example you can have a tax refund and a quarterly bonus in the same month The total of these snowflakes is calculated and applied accordingly Tip If you get paid bi weekly every other week it s best to budget for getting two paychecks each month That way you can use the extra paychecks you get twice a year as debt snowflakes or to pad your emergency savings fund as needed You do have an emergency fund right Billing Month y Amount Comment Delete Jun 2015 1 000 00 extra paycheck Jan 2014 250 00 DMV dues Mar 2013 500 00 bonus May 2012 550 00 quarterly bonus Mar 2012 1 000 00 tax refund Showing 1 to 5 of 5 entries Previous 1 Next The Add Payments column on the debt snowball table is where you can see the debt snowflakes in action In the example below I have a 1 000 additional payment set for June 2015 You can see how it affects the scheduled paym
7. can set the promotional interest rate if applicable For example if the balance on the account is part of a zero percent interest rate until January 2016 just check the Promo Rate box and enter 0 for the interest rate Choose January 2016 from the Good Through selectors Promo Rate Promo Rate Good Through 0 00 January gt 2016 lt Notes Payoff Order for custom plans Reminder Days for sms reminders d gt 0 R Include in Payoff Plan Autopay Save Updates x Delete Account The Payoff Order controls the order that the debts are paid off if you choose to use one of the customer payoff methods The Reminder Days field is the number of days before the due date that a text message reminder is sent If you don t want to use this feature just leave it at zero You ll also have to make sure you have your mobile phone number set correctly in the My Account page The Autopay option can be enabled if you want the software to run in autopilot mode payment records will be automatically created on the accounts due date Note There is no undo for the Delete Account button Make sure you really want to delete the account before proceeding Remember you can disable exclude the account by unchecking the Include in Payoff Plan checkbox and all of the accounts history and information will remain intact Add a Transaction Transaction Type Payment Date Billing Month Amount Payment 2015 04 29 April 2015 915 Save Transact
8. curate projection of your payoff dates 4 3 3 Exporting the Table to Excel Clicking on the Download Excel Spreadsheet button will download a copy of the debt snowball table in Excel format This is a good option to use if you want to print out a hard copy of the table for reference Note If you don t have Excel on your computer or tablet you can use a free online file converter service such as zamzar com to convert the file into one you can use 5 Advanced Features Undebt it offers several optional advanced features that you can use if you like You are not required to use any of these extras but they can be very helpful tracking your progress as well as give you more control over your payment plan 5 1 Snowflake Payments Additional Monthly Payments or debt snowflakes as they are also called are anything extra you can afford to pay down your debt accounts in a certain month These payments are in addition to your regular snowball amount For example let s say you find yourself getting a 1 000 tax refund in April and you would like to apply all of the refund towards paying down debt Add a New Debt Snowflake Billing Month April 2015 Amount Comment be Save Snowflake The first thing you need to do is choose the billing month and year that you ll be paying the extra amount Next enter the dollar amount and optionally a comment such as tax refund and your payment will be scheduled into your monthly p
9. debts so your monthly budget is going to be 1 000 The budget can be adjusted at any time and your payment plan will be updated accordingly User guide provided at no charge by Undebt it 6 Getting Started Debt Dashboard PAYOFF METHOD YOUR BUDGET Set Your Monthly Budget How much can you afford to spend to pay down on debts each month 3 525 Note This amount should to be more than the total of all of your minimum payments for the snowball method to work 2 4 2 Choose Your Payoff Method The payoff method refers to the order in which you pay off your debt accounts The two most popular methods are the debt snowball and the debt avalanche Both methods work great Ss Debt Dashboard PAYOFF METHOD YOUR BUDGET Choose your debt payoff method Debt Avalanche highest interest rate first The debt snowball method pays the accounts with the lowest balance first The idea is that you ll be able to pay off debts quickly and build up motivation with rapid progress The debt avalanche method is mathematically the most effective way to pay down debt Accounts with the highest interest rate are paid off first regardless of balance There are also custom methods which allow you to create your own payoff order if you like Tip Try out the different payoff methods to see how they affect your payment plan You can always change it back if you like Tip Not sure which method to use If you have a lo
10. ecord your payments If you enable autopay the payment transactions will act the same as when you do a manual payment it will be saved to history and also adjust your next due date to the next month Note The autopay process relies on the accounts next due date to be in the future to work properly If you choose to enable autopay but your next due date is today or in the past the autopay function will never run It only runs on the accounts actual due date Tip You can still use manual payments from the Dashboard or the Debt Details page on an account with autopay if you like Info Remember since Undebt it is not actually linked to your debt accounts you still need to make the payment to the creditor User guide provided at no charge by Undebt it 22
11. ents by adding an additional 1 000 to the snowball amount In this case the extra 1 000 is applied to just the Capital One account but if the extra amount is enough to pay off the first account in the list it will apply the rest to the next account and so on Debt Margin Payment Plan Debt Avalanche highest Use Current Month 8 Download Excel Spreadsheet Payments already made for the current month are shown in blue Month Capital Barclays Bank of Chase First Discover Snowball Add Total Total One Bank America Bank Amt Payments Interest Payments 1 May 2015 2 597 37 300 00 65 00 186 00 264 00 112 63 2 254 37 478 33 3 525 00 0 00 0 00 0 00 0 00 0 00 0 00 0 00 2 Jun2015 3 597 37 300 00 65 00 186 00 264 00 112 63 3 254 37 1 000 00 436 43 4 525 00 3 Jul2015 2 597 37 300 00 65 00 186 00 264 00 112 63 2 254 37 378 92 3 525 00 Notice how the additional snowflake payment amount is reflected in the Total Payments column for June 2015 User guide provided at no charge by Undebt it 15 Advanced Features 5 2 Account History premium feature The Account History page gives you detailed information on your debt history as well as a graph projecting your future payment totals Undebt it creates a snapshot of your account information automatically on the first day of the month for historical purposes Placing your cursor over the graph will bring up the graph s legend so you can see the det
12. et by 150 00 will bring the total amount paid each month to 1 550 The total minimum payments due on all of your accounts are 1 273 which leaves you with a margin amount of 277 The total amount you will pay at the end of 29 months is 45 953 Months to payoff 29 2 4 years Debt free in Jul 2017 Total interest paid 1 993 Average interest rate 1 88 User guide provided at no charge by Undebt it 19 RN Advanced Features 5 4 Payment Reminders amp Monthly Statements premium feature This section deals with how Undebt it can help you stay on top of your payments so you re never late These settings are in My Account gt Profile Settings Make sure you have verified the information in this area 5 4 1 Text Message Reminders You can choose to receive text message sms reminders on your mobile phone to remind you that a payment is due Each debt account can be set differently so you can choose to get a warning two days before the due date on one account and not get any at messages at all for another custom plans Reminder Days for sms reminders Payoff Plan x Delete Account The Reminder Days field controls the number of days before notification is sent This field is located on each accounts debt detail page Note Setting the day number to zero disables text messages for the account 5 4 2 Monthly Statement Summary E mails Undebt it can also send you an e mail summary of your upcoming payment schedu
13. etto Know he TESLA eenegen ett 8 4 Eege 9 ce rors OF Ye Coun gis Deb eg Ugh 0 ac elele E 9 TA B a D 010181 6 eee ae ene a a ee a A an ee rear 12 Jem EE e Ne e Cells masosaa nEaN ars Smarr ener nme sere eer eee een eee 13 4S aa COE SIVOVI EE 13 EE Month s Payment on nn er ee EEE EEAS 13 SE RRE Oe ge 80 ac ee ene ene eee eee ere en ee ee ee ee eee ee 13 E E rA Vem We 10 cand ee 14 5 ee Re a ee ere eee ee eee tere eee 14 E rice OW UIT E 14 5 2 Account History premium feature sis acenssnieasnsteemeienuntamaientnieniean aiden aieneninneanalees 16 5 3 Debt Restructuring amp Account Consolidation premium feature ee 17 Ser LPE OO i E 18 5 4 Payment Reminders amp Monthly Statements premium feature ees 20 SE EE EE 20 5 4 2 Monthly Statement Summary Ben E 20 Dio i COMPaNING Debt Payoff MCUNIOGS Sernipinaniir i EEEE 21 5 6 Account Autopay premium fegturel ee 22 User guide provided at no charge by Undebt it Introduction 1 Introduction Undebt it will analyze your debt accounts and calculate the best method for you to get out of debt Of course you have full control over your payment plan and can change or test out other payoff methods at any time The automatically generated monthly payment plan will always let you know exactly when you will be debt free 2 Getting Started The first thing you ll need to do is signup for a free account Click on the link on the main page or the create a free account lin
14. id off and marked as inactive all the history amp info will remain intact 5 3 1 Payment Options This section will allow you to see how adding or subtracting from your total monthly budget will affect your payoff date You can select up to five combinations of payment options and see how much quicker you can be debt free if you can increase your budget Payment Options Use the different options below to see how your payoff plan is affected by changing the amount of your total monthly budget For example if you wanted to see how much sooner you would be debt free if you were able to pay an additional 100 on top of your existing margin payment just choose the increase option and enter 100 in the box Your proposed payment plan will then be calculated Si Increase e your total monthly payment by 300 00 sg Increase e your total monthly payment by 150 00 Increase e your total monthly payment by 100 00 Decrease e yourtotal monthly payment by 150 00 Decrease v yourtotal monthly payment by 300 00 User guide provided at no charge by Undebt it 18 Advanced Features The payment options form comes pre populated with common dollar amounts but you can use your own to see what works best for you Each option you select will have its own information cell with the results of the calculation I had selected four options add 300 add 150 add 100 and subtract 150 Note You can select as many options a
15. ion The Add a Transaction section is one of the ways in which you can record your payments the other way is in the Debt Dashboard The Transaction Type pulldown is to select if the User guide provided at no charge by Undebt it 10 Basic Features transaction is a payment or a purchase The Payment Date refers to the date you want the payment to be recorded it can be in the past or the future but defaults to todays date Make sure the correct Billing Month is selected before proceeding The Amount is auto populated based on your scheduled payment but it can be overridden if you want to pay more or less Note You can make multiple payments in the same billing month if you like The next section Transaction History shows you the detailed payment and purchase history for the account The previous balance before payment and the new balance after payment are both shown If you need to delete a transaction your balance will be adjusted to back out the payment or purchase amount Transaction History Show 10 vg entries Payment P t Dat Billing Month T Prev Bal New Bal aymen ate Hing Mon ype Finnin rev ance ew ance Aug 07 2014 Aug 2014 Payment 200 00 6 194 52 6 042 27 Aug 05 2014 Aug 2014 Purchase 100 00 6 693 25 6 793 25 The last section shows the monthly Interest Accrual History for the account Interest accruals are automatically calculated every month on the accounts due date The amount of interest acc
16. k on the top right hand corner There is also a demo account available if you want to try it out with some test information Sign Up Now it s Free 2 1 Register for a Free Account You just need to supply some basic information like your monthly budget to get started or you can use your Google account to setup the account Register a new account Already Signed Up Click Sign In to login your account Stay signed in Or 8 Connect using your Google account Note If you use your Google account if get setup you ll need to go to your My Account page to set your monthly budget User guide provided at no charge by Undebt it 4 KIN Getting Started 2 2 Adding New Debt Account Information Undebt it allows you to add as many debt accounts as you need Use the Add New Debt Account form to add your new account to Undebt it You ll see the form below right after you create your account It s also located at the bottom of the My Debts gt Debt List page The fields marked with an asterisk are required and need to be filled out before the debt can be saved Once you complete the form and click the Save Info button the new debt will show up in the debt list ADD NEW DEBT ACCOUNT NEW DEBT ACCOUNT You can add as many debts as you want The high balance field refers to the beginning balance of the debt it s used to calculate your overall progress Required fields are marked Debt Nickname Description Type of Debt
17. le on the day of the month of your choosing You can send yourself the statement at any time by clicking on the Email Monthly Summary Now button Notification Settings Choose your timezone This is used to determine the correct time to send optional sms text message reminder messages Debt Assist will send you sms messages at 19 00 at your local selected timezone You can choose another timezone if you d like to adjust the time you d like to receive sms messages You can set different sms reminders for each debt account This is controlled by the Reminder Days field on the debt details page For example if you set the reminder days to 2 you ll get a text message reminder two days before the payment is due Leave the sms number blank if you don t want to receive message reminders Debt payoff method GMT 08 00 Pacific Time US amp Canada gt SMS text message 5554443333 Debt Assist can e mail you monthly summaries if you like It includes the scheduled payment amount for the next calendar month as well as each accounts projected payoff month Use the selector below to choose the day of the month you would like to get the e mail Choose zero to disable the e mails 15 D Email Monthly Summary Now Save Changes User guide provided at no charge by Undebt it 20 Advanced Features 5 5 Comparing Debt Payoff Methods Undebt it gives you the ability to quickly compare all of the payment methods at one time on the Compare Meth
18. lined when you hover your cursor over it This means that the description is a link to the debt details page for the account this is where you can update the account information The Payment field total in the screenshot above shows the total of the minimum payments of the active accounts The Status field is important because it shows you if the account is part of your payment plan active or not excluded You can choose to exclude debts if you want and still maintain all of the debts information if you like In the example above I have excluded the Countrywide mortgage account from the payment plan Accounts can be enabled or disabled at any time and your payment plan will be updated automatically 2 4 Important Account Settings There are two important settings that control how your payment plan is constructed The first one is your total monthly budget and the other one is the debt payoff method Both of these two settings can be changed on the Debt Dashboard page or in the My Accounts page 2 4 1 Monthly Budget The monthly budget setting refers to the total amount of money you can afford to spend on your debt accounts This means that the amount needs to be at least the total of all of your debt payments plus whatever extra you can afford to spend For example let s say you have 3 debts and the total minimum payments for these three accounts are 600 You have 400 extra dollars each month you want to use to pay down these
19. llar amount shown is the remaining amount you still need to pay SS Toyota A Due 2015 05 14 7 528 47 94 1 Remaining Min Payment 145 00 Payment Date Payment Amount 2015 05 14 145 00 gt Quick Pay SS Visa Platinum 1 189 00 100 0 Remaining Min Payment 135 00 Payment Date Payment Amount 2015 05 14 zz 971 00 gt P Quick Pay s Bank of America 3 934 49 45 3 Remaining User guide provided at no charge by Undebt it 12 Basic Features 4 2 1 Dashboard Account Cells Each active debt has its own account cell that contains all of the important debt details in one area You can use these cells to quickly record your monthly payments The cells are ordered by next due date so the ones on top are the ones you should be paying first The Due field in the upper right will change colors to warn you if you are approaching the due date The Payment Date and Payment Amount will automatically be populated but you can change them if needed Note If you have already made a partial payment less than the full monthly scheduled amount you will see an asterisk next to the dollar amount in the Payment Amount field and the payment amount will default to the remaining scheduled payment an Chase S Current balance 4 305 99 50 7 Remaining Min Payment 186 00 Date you want payment recorded Payment Date S ore Amount 2015 05 04 186 00 Ww Quick Pay Ge Change if needed When you have
20. nt History New amp Payoff Plan gt fi Credit Utilization Ka My Account ful My Progress Overall Progress 63 1 Monthly Progress 21 1 Credit Utilization 21 amp Recent Payments Bank of America May 14 2015 Honda 304 00 May 14 2015 Vanguard Loan September 1 2014 Toyota 145 00 August 15 2014 Fidelity Loan August 15 2014 de aY em ST eS a eer AN pe JN 1 700 864 836 359 38 223 63 05 Jun 2016 Debt Dashboard Choose your debt payoff method Debt Snowball lowest balance first ACTIVE DEBT LIST DEBT LIST Payoff order is from left to right Click on the debt description to edit delete see more details or add transactions payments Description Visa Platinum GE Capital Honda Bank of America Vanguard Loan Toyota Balance 1 189 00 2 059 56 3 857 59 3 934 49 5 992 55 7 528 47 Interest Rate 9 25 20 00 5 00 3 25 4 25 3 50 Min Payment 135 00 75 00 304 00 55 00 150 00 145 00 Months to Payoff 2 3 5 8 10 14 Payoff Month Total Interest 10 92 0 00 57 18 66 76 175 93 245 49 el Effective Interest Rate 1 09 PAYMENT MANAGER ENT MANAGER Total budget this month 1 700 Click on the debt name to see more detail and the transaction payment history a next to dollar amount in the payment amount field indicates a payment has already been made for this account this month If a partial payment was made the do
21. ods page You ll see a cell for each supported payoff method along with the summary information average interest paid over the life of the plan total interest to be paid month debt free DEBT SNOWBALL ds 64 246 Total Paid AVG INTEREST RATE TOTAL INTEREST 2 33 4 876 MONTHS TO PAYOFF PAID OFF 43 Sep 2018 Other users on this plan 76 9 Try this method if you have several low balance accounts that you want to pay off sooner rather than later This method is popular to start out with CUSTOM HIGHEST FIRST A 65 013 Total Paid AVG INTEREST RATE TOTAL INTEREST 2 6 5 576 MONTHS TO PAYOFF PAID OFF 44 Oct 2018 Other users on this plan 1 3 Create your own payoff plan with the custom payoff method Assign a payoff number to your debt so you have full control HIGHEST MONTHLY PAYMENT ds 64 800 Total Paid AVG INTEREST RATE TOTAL INTEREST 2 5 5 364 MONTHS TO PAYOFF PAID OFF 44 Oct 2018 Other users on this plan 1 4 Use this method if you want to pay off debts with high monthly payments This can help bump up your credit score DEBT AVALANCHE ds 63 582 Total Paid AVG INTEREST RATE TOTAL INTEREST 2 01 4 213 MONTHS TO PAYOFF PAID OFF 43 Sep 2018 Other users on this plan 17 4 This method is the most mathematically effective way to pay off your debt The highest interest debts are paid off first Balance is not factored in CUSTOM LOWEST FIRST de 63 615 Total Paid AVG INTEREST
22. r guide provided at no charge by Undebit it 8 Basic Features 4 Basic Features This section deals with the basic use of the website such as adjusting account information and making monthly payments 4 1 Updating Debt Information You always have full control over your account information and can make as many changes as you want The Debt Details page has all the information in one place To get to the debt details page for any of your accounts just click the account link from the left sidebar or ona link from the Debt List The debt details page is broken up into several sections the first section has the main account information like name balance interest rate etc You can change the information in any field except for Monthly Interest which is a calculated field based off of the accounts balance and interest rate Capital One estimated Payoff june 2016 15 Capital One 11 571 05 gt EEN Account Details Name Account Type Capital One Credit card line unsecured ZS Balance Highest Balance Next Due Date 11 571 05 11 571 00 2015 05 06 Monthly Payment Interest Rate Monthly Interest 343 00 18 00 173 57 Credit Limit 0 00 Credit Utilization 100 The estimated payoff date is show at the top of the page next to the account name Don t forget to click the Save Updates button when you re done making changes User guide provided at no charge by Undebt it 9 Basic Features The next section is where you
23. rued is based off of your current balance and interest rate Interest Accrual History Show 10 Y entries Accrual Date y Promo Rate Int Rate Balance Before Int Accrued Balance After Sep 07 2014 No 9 25 6 948 16 53 56 7 001 72 Showing 1 to 1 of 1 entries Previous 1 Next Note The balance on your account may not exactly match what you see on your statement due to the differences in how some banks calculate accrued interest You may need to occasionally manually adjust the balance on your account to match your statement User guide provided at no charge by Undebt it 11 4 2 Debt Dashboard Basic Features The Debt Dashboard is where you ll be spending most of your time It has all the information you need in one place You can change your budget and payoff method in the first section The second section is a summary view of your active account list that has great info like projected payoff date and total interest to be paid over the lifetime of the debt The payoff order of the debts is from left to right This is the page you will see after you login WU undebt it LOG OFF MY ACCOUNT CLASSIC INTERFACE HOME MORE INFO MY DEBTS BLOG CONTACT Active Debts Monthly Budget Min Payments Snowball Amt Payments Made Total Balance Overall Progress Payoff Date Fi 6 Dashboard 1 Toyota 2 Visa Platinum 3 Bank of America A Honda D Vanguard Loan D GE Capital Additional Payments Payme
24. s you want you don t need to enable them all Option 1 Increase Your Payment By 300 00 Increasing your monthly budget by 300 00 will bring the total amount paid each month to 2 000 The total minimum payments due on all of your accounts are 1 273 which leaves you with a margin amount of 727 The total amount you will pay at the end of 23 months is 45 529 Months to payoff 23 1 9 years Debt free in Jan 2017 Total interest paid 1 570 Average interest rate 1 86 Option 2 Increase Your Payment By 150 00 Increasing your monthly budget by 150 00 will bring the total amount paid each month to 1 850 The total minimum payments due on all of your accounts are 1 273 which leaves you with a margin amount of 577 The total amount you will pay at the end of 25 months is 45 647 Months to payoff 25 2 1 years Debt free in Mar 2017 Total interest paid 1 688 Average interest rate 1 84 Option 3 Increase Your Payment By 100 00 Increasing your monthly budget by 100 00 will bring the total amount paid each month to 1 800 The total minimum payments due on all of your accounts are 1 273 which leaves you with a margin amount of 527 The total amount you will pay at the end of 26 months is 45 690 Months to payoff 26 2 2 years Debt free in Apr 2017 Total interest paid 1 731 Average interest rate 1 82 Option 4 Decrease Your Payment By 150 00 Decreasing your monthly budg
25. st put in the terms of the loan in the Restructured Account Info section Select Account s to Consolidate Restructured Account Info K GE Capital 2 059 56 HELOC d Bank of America 3 989 49 Home equity loan v Honda 4 161 59 3 5 Vanguard Loan 5 992 55 12616 d Visa Platinum 6 565 75 350 Toyota 7 528 47 Fidelity Loan 13 660 93 amp Preview Account Restructure d Show payment options User guide provided at no charge by Undebt it 17 Advanced Features Press the Preview Account Restructure button to see the changes A new debt free date will be calculated in addition to the difference in how much interest you ll be paying with the new loan You will be able to do a side by side comparison Current Plan Restructured Payoff Plan Total principle amp interest 48 390 Combined principle amp interest 45 784 Total interest 7 611 Total interest 1 826 Average interest rate 2 81 Average interest rate 1 85 Years debt free 6 2 Years until debt free 2 3 Debt free date Debt free date 2 606 3 9 years 47 months In this example you ll see that consolidating multiple high interest credit cards into a low interest line of credit will get you debt free almost four years sooner and save you over 2 600 in interest payments Optionally if you want to keep the proposed account changes press the Commit Changes button A new debt account will be created and any of the accounts selected will be pa
26. t of small balance accounts or have a hard time staying on track with debt reduction use the snowball method to start Otherwise use the debt avalanche method Once you get started you may find that a custom method works best for you User guide provided at no charge by Undebt it 7 Get to Know the Interface 3 Getto Know the Interface Dashboard This is the left sidebar you ll see on every Undebt it page The first section has quick links to other pages and a list of your active debts The order that your eeng accounts are displayed is by the next due date 2 Barclays Bank ES My Debt Accounts Anytime you see a gt on the menu like on the Payoff Plan section it means that there is a submenu with other options that you can click on 3 First Bank 4 Capital One D Bank of America 6 Chase T Countywide Additional Payments t Payment History New ES Payoff Plan gt w Credit Utilization a My Account The bottom half of the sidebar shows a few progress stats the monthly progress refers to your actual payments made for the month versus the scheduled My Progress Overall Progress 15 5 payments for the month Monthly Progress 73 8 The Recent Payments section shows your payment Sa Wein history newest payments are on the top ES Recent Payments Bank of America 750 00 Aprl 23 2015 Countrywide 125 78 Aprl 20 2015 Bank of America 1 734 53 April 20 2015 Use
27. the correct payment date and amount set just click the Quick Pay button to save the payment If your payment is enough to meet the accounts minimum payment amount the next due date will be adjusted one month automatically 4 3 Debt Snowball Table The Debt Snowball Table is where you can really see how Undebt it works The snowball table is an enhanced amortization table where you can see every payment detail scheduled for you for each month until you are completely debt free Like other areas on the website debt accounts are listed in payoff order from left to right There are also fields for snowball amount additional snowflake payments and monthly interest for each month There is also an option for changing your payment plan so you can quickly try out different payoff scenarios 4 3 1 Current Month s Payment The first row shows you the payments you have made for the current month in blue Remember Undebt it supports multiple payments per month on the same account so the amount you see here is the total amount you have paid for the current billing month 4 3 2 The Next Month Feature At the top of the page you ll see an option called Start Next Month this allows you to see how the plan works starting the next month You ll want to use this option if you have paid User guide provided at no charge by Undebt it 13 Advanced Features all of your accounts for the current calendar month This will give you a more ac
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