If you have multiple interest-bearing debts (car, house, student loans), how do you pay off your debts while minimizing interest expenses? If you said pay down the debt with the highest interest rate or the one that will get paid off first, you'll be in for a shock.
If you plan to roll payments forward as loans are paid off, then the highest-interest-rate-first approach usually saves the most interest, but who really does that?
If you're like a lot of people, when one loan is paid off, you don't have the luxury of applying the payment to another debt. You need to use the extra money now. In this case, Payment Professor could save you thousands of dollars versus traditional payoff techniques.
Payment Professor is a free download designed for Windows 7, Vista, and XP. The software looks at your personal debt situation and determines if its method to pay down debt saves more interest than traditional payoff techniques. The software will tell you how much you could save in interest payments with each technique. After activating the software, Payment Professor will show you its optimized month-to-month payoff plan to help you save lots of money on interest payments.
What's new in version 1.0
ReleaseApril 22, 2013
Date AddedApril 21, 2013
Operating SystemsWindows, Windows XP, Windows Vista, Windows 7