The Survival Podcast Forum

Finance and Economics => The Money Board => Topic started by: ladieu on February 02, 2010, 09:42:12 PM

Title: My free debt elimination website
Post by: ladieu on February 02, 2010, 09:42:12 PM
This is a repost from the comments on the 2/2/2010 podcast. I wanted to get some more exposure for my free debt elimination website. I think it can really help people. Give me your feedback please!!

The post:


TSPers… about 6 years ago I, much like many others, had consumer credit card debt, student loans, car payments, etc. Since I am a big computer nerd I made a website which amortizes your various debts and gives you a payment plan, by no coincidence my plan happens to be the “debt snowball” though I have never heard of Dave Ramsey until I listened to TSP.

On the website you can see your interest savings and time savings… so whatever motivates you it is on there.

So after listening to tonight’s show I got motivated to bring my website back from the dead.

So I just spent about 3 hours reworking the site to remove the registration process and the sign-up process. You can now use 100% of the site without registration or BS

It is 100% ad free and 100% obligation free. I put it up there to help people out who are in debt. There is no monetization in the site.

I also added this podcast to the homepage.

Please view my site and give me your feedback. I would really appreciate it! The URL is:

http://www.debtmd.com (http://www.debtmd.com)

My email is on the homepage.
Title: Re: My free debt elimination website
Post by: cerakoter on February 02, 2010, 10:00:46 PM
Very nice!!!  Thank you!  I'll be working up a profile tonight.
Title: Re: My free debt elimination website
Post by: Castle6 on February 03, 2010, 10:15:40 AM
This is awesome!  I had a similar spreadsheet-driven version of this concept 15 years ago.  Yours is a much better system.  I especially like how you summarize everything, then break it out in increasing levels of detail including a month-by-month payment plan.  You can print it out and check them off as you pay them.  I love how it tells you how much interest you'll save, how many years it would take you at the minimum payment, and how many years it will take on this plan (a huge time savings!).

Here's an example from my plan (my student loan that seems to be lingering far longer than it should have):

This debt is $7,483.93 at an interest rate of 4%
If you use minimum payments, you will pay $1,126.23 interest on this debt
You will pay $599.94 using the DebtMD System.
Interest Savings: $526.29
It would take you 7 years and 1 month to pay off this debt using minimum payments
With the DebtMD System, you will pay off this debt in 2 years and 10 months
This debt will be paid off 4 years and 3 months sooner using the DebtMD System.

Mods, please make this thread a sticky.  It's that good!
Title: Re: My free debt elimination website
Post by: Cool Blue on February 03, 2010, 02:26:41 PM
Wow this is great.  Thanks a bunch!
Title: Re: My free debt elimination website
Post by: Whatatata on February 04, 2010, 02:01:00 PM
More Debt MD please!!!!    ;)  
Title: Re: My free debt elimination website
Post by: Rand McNally on February 07, 2010, 11:36:12 AM
Great website. I started getting serious about debt late last fall, and your site backs up some rough calculations I made. It was nice to have a second option that I could pay things of that much quicker than using the minimal payment plan. I was looking at owning my house in 5 years, your program says 4 years 11 months.

One glitch I think I found is that if you go back and try to change interest rates on the debts page it seems to want to keep using the original interest rate when you go back to the summery page.

Thanks for the resource. 
Title: Re: My free debt elimination website
Post by: sledgehammer on February 07, 2010, 12:01:16 PM
Wow! That's all I can say! Great site, great tool!!!
Title: Re: My free debt elimination website
Post by: Porkmeal on February 07, 2010, 02:36:20 PM
It's great to see people can get some help developing a plan that will improve their life.
Title: Re: My free debt elimination website
Post by: Whatatata on February 11, 2010, 01:58:11 PM
Great website. I started getting serious about debt late last fall, and your site backs up some rough calculations I made. It was nice to have a second option that I could pay things of that much quicker than using the minimal payment plan. I was looking at owning my house in 5 years, your program says 4 years 11 months.

One glitch I think I found is that if you go back and try to change interest rates on the debts page it seems to want to keep using the original interest rate when you go back to the summery page.

Thanks for the resource. 

I emailed Nick about the glitch.  He'll change it no doubt.  Good to have TSP beta testers for precisely these reasons.
Title: Re: My free debt elimination website
Post by: ladieu on February 11, 2010, 02:05:08 PM
Hey sorry about the slow response. Dealing with the blizzard of 2010!

-Nick
Title: Re: My free debt elimination website
Post by: ladieu on February 12, 2010, 03:05:14 PM
@ Rand McNally


I wasn't able to duplicate this bug. Did you make sure that after you update the interest rate that you select "Submit Information" button?

The page should refresh and you should see a red message that states "Your debt plan has been updated!"

If you give me more information I'll do more troubleshooting
Title: Re: My free debt elimination website
Post by: Rand McNally on February 15, 2010, 10:40:05 AM
I solved the problem, I don't want to go into details but the error likely existed between the seat and the keyboard.

Thanks again for a great site. I use it to motivate me.
Title: Re: My free debt elimination website
Post by: fngrlickingood on June 27, 2010, 04:18:13 PM
+1 ladieu, this site is great!
Title: Re: My free debt elimination website
Post by: Bennington1776 on December 07, 2010, 09:36:32 PM
Thank you, thank you, thank you for sharing this with us.  I have a fair amount of debt and by sticking to this plan and contributing some extra money each month my household will be out of all of our debt by August of 2017.  Now this may seem like it is far off but, in reality as we (my wife and I) continue to find ways to save and become more resourceful.  Grow our own vegetables, buy other items on bulk or at a discount and learn more of the lost arts.  The time will fly by and we will be so far ahead of the game.  It is a very numbing feeling to see how much interest we are paying out.  But this elephant will be eaten one bite at a time.  Thank you again and God bless you and yours ladieu.
Title: Re: My free debt elimination website
Post by: JiB on January 04, 2011, 09:19:01 AM
I guess in America you also treat mortgage debt as being less objectionable than other forms, i.e. credit cards etc.?
Here in Switzerland virtually no one fully pays off debt on the residential property they live in. It wouldn't be tax efficient to do so.
Title: Re: My free debt elimination website
Post by: ladieu on January 04, 2011, 09:28:58 AM
In general that is the case that is is treated as less objectionable.

If you view the interest your paying vs the tax your saving, here in the U.S. at least, it is better to pay off the house.

The main benefit is the freedom it creates in your life, and no investment chart of graph that says otherwise can trump the intangible benefits of being out from under mortgage... it is a dream of mine to be free in clear in 5 to 7 years

-nick

I guess in America you also treat mortgage debt as being less objectionable than other forms, i.e. credit cards etc.?
Here in Switzerland virtually no one fully pays off debt on the residential property they live in. It wouldn't be tax efficient to do so.

Title: Re: My free debt elimination website
Post by: DUX4LIFE on June 18, 2011, 11:34:47 AM
Is the site down?  I am having trouble logging in.  The site does not recognize my email address as being that of an active member.
Title: Re: My free debt elimination website
Post by: imatter2 on June 21, 2011, 06:27:33 AM
The site looks like a great help.  However, wouldn't it be most advantageous in the US to pay off all debt outside of student loans and mortgage payments first (so focus on credit cards first), since the interest is tax-deductible.

I am a recent college graduate, with a modest amount of debt. Mainly student and car debt.  I am trying to focus on my car debt first - which has no tax deductible interest, and I am then taking my tax return from the student loan interest that I write off at the end of the year, and putting that entirely toward the principle on my student loans.  Any thoughts on this strategy?

Thanks from a new prepper.
Title: Re: My free debt elimination website
Post by: ladieu on June 21, 2011, 07:38:41 AM
it does pay them off in that order. Unless of course your credit card payments are larger than you mortgage. The debt "snowball" pays off the smallest first and then rolls it up into the larger debts with the mortgage being last
Title: Re: My free debt elimination website
Post by: BetaDee on September 03, 2011, 02:42:42 PM
I saw this post so decided to check out the website... LOVE IT!!  Much easier to use than my complicated excel spreadsheet... According to the calculator I could be out of debt much sooner than I ever immagined!  I am definitely using this!    ;D
Title: Re: My free debt elimination website
Post by: Prepper7 on September 03, 2011, 08:15:13 PM
Thank you!
Title: Re: My free debt elimination website
Post by: ladieu on September 05, 2011, 09:36:03 PM
you are welcome. I hope this helps a lot of people. I have over 4,000 subscribers to date and not a penny charged to them!

-Nick

Thank you!
Title: Re: My free debt elimination website
Post by: Wrekz on December 02, 2011, 03:57:58 PM
Thank you for sharing this with us!!  I have a spreadsheet that I have been using that took quite a long time to set up correctly.  This uses the same principles and it's done is seconds.  Much appreciated!!
Title: Re: My free debt elimination website
Post by: ttubravesrock on December 02, 2011, 05:03:45 PM
It looks like you put a lot of effort into this site.  I have my own system that does the same thing, so I can appreciate the amount of work you have done to make this available to people for free.  My system is super personalized to me (a lot of information is stored in my head, and my monthly income is not a constant, so things fluctuate), so I will be happy to share this with others.
Title: Re: My free debt elimination website
Post by: ant on January 02, 2013, 07:26:34 AM
I just discovered this.  What a great website!  It should be very helpful for eliminating debt.  Thanks so much for all the hard work you put into this.

ant

Title: Re: My free debt elimination website
Post by: Duckman on February 05, 2013, 06:13:14 PM
This is fantastic! I am always trying to figure this out on my own and I am always frustrated with it. The ad free thing is great too!

Thanks!
Title: Re: My free debt elimination website
Post by: ladieu on February 06, 2013, 07:52:56 AM
Thanks, my way of giving back to TSP which has changed my life permanently and for the better.

This is fantastic! I am always trying to figure this out on my own and I am always frustrated with it. The ad free thing is great too!

Thanks!
Title: Re: My free debt elimination website
Post by: wraithe on February 10, 2013, 09:32:41 AM
Great tool, thanks for posting, my family has already paid off everything except the mortgage, which is only 21 months old, with some effort, we can be paid off in March 2020! Sorry, TMI, but I'm excited folks.
Title: Re: My free debt elimination website
Post by: Duckman on February 17, 2013, 02:09:06 AM
Ok, I have completed my first month of the plan! Here's to another 16!  ;D
Title: Re: My free debt elimination website
Post by: Bennington1776 on February 18, 2013, 08:41:23 PM
Just wanted to give an update.  I have paid off my 2ND debt and will have one of two  credit cards paid off in two months.  So excited about this program.  With the proper motivation and discipline everyone can be debt free.  Thank you again ladieu.  :happydance:
Title: Re: My free debt elimination website
Post by: Smurf Hunter on March 13, 2013, 05:17:55 PM
I'm going to give this a crack tonight.   While we haven't been increasing our debt, we haven't been kicking it's butt either.  I make decent money, but also live in an expensive area, with a deeply underwater mortgage.

We're soon faced with replacing an aging family vehicle.  We don't currently have a car payment, but also don't have a lot left over funds after retirement and anticipated expenses (christmas, tuition, etc.)

Hopefully this will inspire some change for me.
Title: Re: My free debt elimination website
Post by: UpstateNYPrepper on August 15, 2013, 04:38:12 AM
I just paid off my car loan today, since starting debt elimination in January I have paid off a student loan, credit card debt and now my car... before waking up it seemed like I was addicted to adding debt, I prefer being addicted to getting rid of the debt.
Title: Re: My free debt elimination website
Post by: Bennington1776 on August 16, 2013, 01:57:22 PM
I just paid off my car loan today, since starting debt elimination in January I have paid off a student loan, credit card debt and now my car... before waking up it seemed like I was addicted to adding debt, I prefer being addicted to getting rid of the debt.

Great Job UpstateNYPrepper  :clap:

It is a great feeling when you pay off a debt.  It also give a sense of accomplishment and peace of mind knowing you are that much closer to true financial freedom. 

Great job and to anyone who has not looked at the DebtMD program, GIVE IT A TRY.  It is working for me.
Title: Re: My free debt elimination website
Post by: ladieu on September 06, 2013, 12:38:24 PM
Good stuff, glad to hear people are using it. I've not checked in on the site for eons, but last i checked over 30k plans were calculated with over 500 users active within a 30 day timeframe.  I'm working on a student loan elimination book for the amazon kindle with a friend of mine who works in finance.

Just wanted to give an update.  I have paid off my 2ND debt and will have one of two  credit cards paid off in two months.  So excited about this program.  With the proper motivation and discipline everyone can be debt free.  Thank you again ladieu.  :happydance:
Title: Re: My free debt elimination website
Post by: Fyrsprite on September 07, 2013, 09:36:38 AM
Thank you so much for this site.  It provided exactly the inspiration we needed.   :D
Title: Re: My free debt elimination website
Post by: michael SI on September 11, 2013, 08:38:26 PM
Interesting. It looks like you have the programing side of things down (you must be a coder), but your interface needs improved. People do much better with numbers if graphics are used. Also try to concentrate more functions to one or fewer pages. It seemed with every input I was taken to a new page. I was a graphic artist for many years and I love economics... let me know if you want more comments/suggestions, maybe I could help you with art pics.
Title: Re: My free debt elimination website
Post by: ladieu on September 12, 2013, 10:18:18 AM
There are graphics etc.. or at least there used to be.

Also this was programmed before web 2.0 thus why it doesn't have a modern/nice workflow.

regarding updating it, not gonna happen, that is not unless I get money for it.

Sorry I realize this is a snarky reply, but I'm a new father with a lot on my plate and this is a free resource.

-Nick

Interesting. It looks like you have the programing side of things down (you must be a coder), but your interface needs improved. People do much better with numbers if graphics are used. Also try to concentrate more functions to one or fewer pages. It seemed with every input I was taken to a new page. I was a graphic artist for many years and I love economics... let me know if you want more comments/suggestions, maybe I could help you with art pics.
Title: Re: My free debt elimination website
Post by: lhcbinpa on November 14, 2013, 08:39:56 PM
Wow! I'm relatively new here and no stranger to the "snowball" but I've been paying some extra payments and some over minimum payments. My intention when we got our mortgage was 20 years to jive with my intended retirement but this shows how I can essentially own my paycheck in 9 years ( Good Lord and Uncle Bernanke willing). Awesome! Thank you for the inspiration to kill this monster and shine some light on the work til ya fall over thought process we've been trained into.
Title: Re: My free debt elimination website
Post by: ladieu on January 08, 2014, 12:52:47 PM
FYI,,

my web host upgraded php version and it borked the site for a bit.

I have fixed it and it should be working again

good luck with your debt elimination!
Title: Re: My free debt elimination website
Post by: The FOM on January 21, 2014, 01:52:01 PM
This is a great website. Thanks for the hard work you have put in for the benefit of the community.
Title: Re: My free debt elimination website
Post by: UpstateNYPrepper on June 13, 2014, 12:16:22 PM
We are down to our final payment (other then our mortgage).  My wife's car is all we have left and come September (maybe August if we have a successful garage sale and I can get some extra overtime) we will be debt free.  This website definitely helped us with the initial organization and what is the best is you can see the end in site after you plug in all the numbers.  Thanks again.
Title: Re: My free debt elimination website
Post by: ThePaul on May 18, 2015, 11:22:01 AM
Great tool! Can you make a mobile app version for this?
Title: Re: My free debt elimination website
Post by: joe121 on November 10, 2015, 01:45:40 PM
Need to do this tonight.