Debt Comparison Calculator - Choose The Suitable Debt Relief Option

Online, April 28, 2011 (Newswire.com) - The DebtConsolidationCare Community has introduced a Debt Comparison Calculator for the users/viewers/consumers. The calculator makes it easier for the consumers to determine the type of debt relief option they can afford. The consumers can make a comparison between the 4 debt relief options - interest rate arbitration, debt settlement, debt management, and bankruptcy and decide which one will suit them best.

The consumers need to enter their existing debt amounts in the calculator. Once the consumers list the figures of their credit card debt amount, installment loan amount (auto, personal, boat, etc.), monthly payment amount in the calculator, the application will show them a comparative list of the 4 debt relief options. The consumers can know from the list how much they need to pay every month for each debt relief option in order to become debt free. Moreover, the calculator reflects the total amount consumers can save with each debt relief option.

Apart from the monthly payments and the saved amount, the consumers can find out the overall amount they need to pay for interest rate arbitration, debt management, debt settlement and bankruptcy to clear their dues. The calculator also lets them know how long will it take for the consumers to become completely debt-free. They can calculate the number of months required to make payments with each debt relief options so as to erase their debts.

The best part of the Debt Comparison Calculator is the fact that this application can help consumers avoid selecting the wrong debt relief option, which in turn can aggravate their financial problems. They can opt for that debt relief option which can help them save maximum amount and solve their debt problems in a minimum time period. The consumers can also organize their finances and budget as per their chosen debt relief option. They can have a clear idea regarding how much they can save due to settlement, management, interest rate arbitration and bankruptcy. This way they can get back your finances on track sooner.

Till now, consumers have given positive feedback about this calculator. A DebtCC community member, Anna Sweeting says, "Finally, I have found a free online calculator that helps me choose the right debt relief option. The best feature of this financial application is that I can know exactly how much I need to pay for each debt relief plan".

Another member has commented that "I and my husband got into debt problems few months back. We wanted to get help of debt relief plans but were confused as to which one will be suitable for us. Thanks to the Debt Comparison Calculator, we have been able to choose the debt relief plan which we can afford". Encouraged by the ecstatic response from the viewers, the Community is now working on making the calculator more effective. Hopefully, in the coming months, the consumers can not only use the debt calculator for making accurate calculations but can also install it in their blogs and websites.

For more information please visit here:http://www.debtconsolidationcare.com/calculator/debt-consolidation-types.php