Free Online Loan Payoff Calculator Reveals in Seconds How Much Money is Needed to Pay Down Debts

NEW YORK, Nov. 29, 2012 /PRNewswire/ -- ReallyBadCreditOffers.com has released an online calculator allowing people to determine what it will take to payoff balances owed, free to use for visitors.  The internet-only tool allows people to calculate in seconds the time it will take to eliminate loan balances, show the interest savings that can be achieved by adjusting payment amounts and clearly display the interest costs incurred over the life of loan.

The easy to use tool is a natural addition to the credit repair, FICO information and short term loans for bad credit offered that earned the site its popularity online. Visitors who wish to use the simple tool are invited to visit the official website, and need only enter the details of their credit lines to use the debt payoff calculator.

The tool makes a great addition to the sites customized debt consolidation offerings for bad credit.

According to the site, when bills pile up, the pressure on families raises just as high.  In these moments of high emotion, consumers are more likely to make unsound financial decisions.  Unwise decisions can be avoided, they recommend, by taking the emotion out of the equation and letting the numbers dictate the wiser course.

The new calculator is ideal for use with the following:

• Credit Card Debts
• Short Term Debts
• Personal Loans
• High Interest Debt

"Simplifying the math, making number crunching easy and hassle-free, is the foundation of better decisions relating to money," stated Ariel Pryor, with the site.

People facing financial decisions can use the new tool to help give tough problems a clear solution.  The website has released the debt crunching tool in order to help people quickly and easily determine the true borrowing costs of their financing. 

"Knowing up front, with full transparency what a financial agreement entails means making better choices," added Mr. Pryor.

The tool can be used to determine how adjusting payments can speed up the elimination of debts as well as to determine the added costs a higher APR rate on borrowed money will incur.

People who wish to take advantage of the exclusive debt calculator need only visit the site and enter in the details specific to their financing.  Users are asked to enter the amounts they owe, annual interest rates, monthly payments they plan to make and considered extra payment amounts. Then the user can click calculate to receive their results.  Inspired by the FTC.gov calculator, consumers can easily plan how to eliminate their debts.

Following a survey of average visitors to the website, ReallyBadCreditOffers.com found that the math behind annual percentage rates, adjustments, finance costs and the like leads to borrower frustration.  Resources such as the FTC's debtors guide do little to simplify the complexities Americans commonly face when borrowing. 

"We kept the tool as simple as possible so that it is easy to use and clearly shows the results in seconds.  There are no complicated features or unnecessary options that would only get in the way of getting the results our visitors want," stated Mr. Pryor. 

Adding, "Our lending customers expect direct answers to their financial questions, and tools that make their life simpler, not more complicated."

The payoff calculator is sure to be great news for people interested simplifying the decisions relating to their pocket book, and will surely result in more American families paying off their debts sooner than they would otherwise.

About:

About ReallyBadCreditOffers.com:

The popular online lending resource has been helping American families get money, eliminate debts, improve FICO scores and improve their personal finances since 2008.

People who would like to learn more about how to eliminate what they owe using the calculator: http://www.reallybadcreditoffers.com/debt-calculator.php

To learn more about other programs offered to help consumers with low FICO scores, visit the official website today: http://www.reallybadcreditoffers.com

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SOURCE ReallyBadCreditOffers.com