Page 66 - Book1E

Your Current Financial Situation
Creditor Interest
Creditor 1 $192.65
Creditor 3 $15,895.33
Creditor 4 $14,044.41
Balance Payment Months
$365.85
$16,473.77 95
$16,731.57 87
APR $15.00
$342.00 $357.00
17.24 %
Total Paid 28.94 %
19.49 % 18.99 % $5,484.98
$558.50
$32,369.10 $30,775.98
$1,925.28
I n t e r e s t $365.85
$16,473.77
$21,209.13
$4,456.45
38
Creditor 2 $3,798.09 $100.00 25.08 % $7,633.51
$3,835.42 77
Creditor 5 $3,559.70 $85.00
Roll-Up Chart — Using Current Payment
Creditor Balance Payment APR Months
Total Paid 0.00 %
0.00 % 9.90 %
Creditor 1
$0.00 25
$365.85 $15.00
Creditor 2 $3,798.09 $80.00 9.90 % $4,762.46
$964.37 51
Creditor 3
$0.00 50
Creditor 4 $4,477.56
$16,731.57 $355.00 55
$16,473.77 $330.00
58
Is a Debt Management Program for You?
Creditor
5 $3,559.70 $72.00 9.00 %
As you can see, the Roll-up payment method would result in an overall savings of $32,626.41 and you would be out of debt three years sooner than under the regular payment schedule.
It is also possible to reduce your monthly payment, which would slightly increase your pay-off time. Talk to your FFEF credit counselor about this option.