Have you ever heard of Debt Compass? GET IT!!!
Date: Sun, 01/23/2011 - 20:00
My brother in law let me know of the tool. My wife and I have approximately $282K of debt, with a car, a handful of credit cards and a condominium. Thankfully, i actually do have employment and we were talking over the holidays about the debt, and he found the tool in iTunes, downloaded it and was astounded at the results it produced for him, and now I am as well.
My debt, if i pay my minumums and apply the extra from paid off loans to other debts, according to the tool will have me paying $424 at the end of my debt, in 21 years.
I do have the ability to apply $200-300 extra to the debts, and if I do this calculation with the tool, the total debt i now will have to pay is $385K.
GET THIS!!!!! I save $39K, and reach debt free in 5 less years, which equated to $200+ dollars per month i can save.
When something is this good, you just have to share the results!!!! I still can't believe by spending $5 dollars, I can actually save over $200 if i am smart with my money.
I'm simply blown away at how easy it was.
Why haven't we seen this type of application in the hands of consumers before?
Well... I haven't heard of this tool before... Good to know that
Well... I haven't heard of this tool before... Good to know that you found such an useful tool which will help you get debt free faster.
Debt consolidation is a plan to renegotiate the amount of debt
Debt consolidation is a plan to renegotiate the amount of debt you owe so that the amount paid is less than that owed, yet is accepted as full payment of the debt. Debt compas to get debt-free! and is the the quickest way to financial freedom or simply the best way to save the most of your hard-earned money!
well, allow me to save everyone here the trouble..... This guy
well, allow me to save everyone here the trouble.....
This guy claims to have "282K" in debt. He lists a condo, a car payment, and a handful of credit cards. Well, unless youre driving a new Ferrari or something, its clear that the bulk of that amount would be the condo. So, let's say that the condo is, to be on the conservative side, $200K.
If you have a 30 year mortgage, you can cut that note down to about 16 years by simply doing one thing different--if you make one extra house payment a year, and direct that payment to principal, you will drop about 14 years of paying interest off of your mortgage. Here's a guy that claims he spent money to save $39K of off nearly $300K in debt. I just told you how, if this were even true to begin with, he could have not spent a penny on "debt compass", and saved more than $39K on his mortgage alone. And, since he said he has hundreds extra each month to spend on this, then he could have had his mortgage paid off even faster, and saved even more.
While this app may help you to keep track of bills, it only helps if three things are true:
1--if you have a smartphone capable of downloading and using apps in the first place
2--if you have the financial means to repay debt
3--if you have the willingness to put your money into that debt.
And if you have #2 and #3 above, you dont need #1 in the first place. Just a thought for everyone.
Skydivr, yes, you are right, I could have spent one extra house
Skydivr, yes, you are right, I could have spent one extra house payment per year, which is $1400, and that's a little more than $200/month. Though, essentially, i would be flying blind, not really knowing the exact effect of where that money is going.
My calculation is based upon spending $300 extra per month.
Would it be better to pay off a low balance credit card first, before paying toward my condo?
This tool allows me to KNOW EXACTLY the effect, if i pay toward my highest interest first, my biggest balance first, my lowest balance first, equally dividing my extra principle across all of my bills. Again, i have never seen this anywhere before, and neither has my brother-in-law.
Before you start casting your doubts, check out the utility for yourself, and you'll see the tool is very effective at performing analysis on debts.
It was clear to me the impact of knowing exactly how repaying my debt could be accomplished. This tool gave that to me, and I wanted to share this knowledge with other people who may currently be in the dark about how to proceed.
Quote:Skydivr, yes, you are right, I could have spent one extra
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Skydivr, yes, you are right, I could have spent one extra house payment per year, which is $1400, and that's a little more than $200/month. Though, essentially, i would be flying blind, not really knowing the exact effect of where that money is going. My calculation is based upon spending $300 extra per month. |
Well, here's the part you dont seem to understand--NO ONE should throw money around without knowing where it is going. Where did I ever say to do that? "not knowing the effect of where the money is going"? Youre kidding, right? I posted a known factual idea that is available all over the place, which was learned for free, and a little common sense is all else that is needed for me to track my bills and my money. I dont need an app on a phone to tell me something that is available for free all over the internet and many other places. If you do, thats good for you. But the fact is this--there are already tons of resources, not the least of which is this forum itself, that allow for people to become educated on money matters.
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Would it be better to pay off a low balance credit card first, before paying toward my condo? |
You said you have sufficient income and resources to do more than add an additional mortgage payment each year. Why not do both? For the average person, the idea of one mortgage payment extra per year works because they dont always need to come up with additional income to do it.....an income tax return, for example, could provide the needed funds. When people are in debt and they do not have additional income, they need real-world possibilities. But then again, the only thing you have proven thus far is that you can put words into my mouth that I never said. I didn't say to only pay off the condo, nor did I say to pay it off first. There is no one-size-fits-all answer there. Good example--I have a mortgage but no credit card debt. Others may have credit cards, but the balances are so low that they are wasting more money by letting a mortgage run its course than to rush to pay off the card first.
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This tool allows me to KNOW EXACTLY the effect, if i pay toward my highest interest first, my biggest balance first, my lowest balance first, equally dividing my extra principle across all of my bills. Again, i have never seen this anywhere before, and neither has my brother-in-law. |
And? Shouldnt we know this kind of information before we spend ourselves into debt to begin with? If you do not, then you shouldnt be spending that kind of money that you have nearly $300,000.00 in debts. Man, at 37 years old, the only debt I even have now is a mortgage, and the total balance left on that, if I pay out all the payments on schedule, is $41K. I am not rich, and I work for an average salary. I also had to overcome cancer and a ton of medical bills. I didnt go to college to take any classes for finances or anything of the sort. Managing money is something that should have been learned before spending money was learned. As for the average person, and of course this is just my opinion, but if someone is in that kind of debt, they dont have any business owning an IPhone that cost hundreds of dollars in the first place. Thats the problem with this country today.....people already in debt shelling out hundreds of $$$ to buy stuff they don't need instead of paying off what they already have.
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Before you start casting your doubts, check out the utility for yourself, and you'll see the tool is very effective at performing analysis on debts. |
Before you post another endorsement like this one, check out the rules and terms of service of this forum. This smacks so very heavily of an advertisement. For all we know, you could profit from this app being bought by others. No one here knows you--posting under anonymous guest names--and this is EXACTLY the kind of thing we see from people who come here only to shamelessly plug their own money-making plans. That is precisely why it isn't allowed here.
i saw this and am way ahead of you skydiver.all the OP hasn't do
i saw this and am way ahead of you skydiver.all the OP hasn't done is give out an exact website to get this awesome tool.am waiting for that btw,and when it happens the boom will be lowered on the OP as their attitude is disgusting.go somewhere else to talk down.yes i said talk down as a person who carved up your post gets talked down to.an iphone?trumpet your finances and mortgage and situation elsewhere.i will follow skydiver,and his advice over a shill any day.
Sky, i certainly don't need a phone to tell me exactly, to the p
Sky, i certainly don't need a phone to tell me exactly, to the penny, though KNOWING is better than not knowing and guessing (which is exactly what i'd be doing if I made one extra house payment). Look, i'm not insulting your knowledge, as another poster claims.
I agree, this forum seems to be a great source for information. There are also many other sources of information available on the internet. The application i spoke of earlier is indeed a unique tool, and honestly, i do find it rather odd you and the other poster as moderators aren't the least bit interested in it, and would rather attack me in the process. I meant no harm. I find it valuable.
I'm not going to give out the website, since that's not why i'm here.
After re-reading the posts again, wow, you two are certainly attacking me for no reason. Are you serious? It's this kind of moderation that would seem to want to keep people from learning there are other sources of information available. As a public site for sharing information, i would expect a different reaction.
People who follow you on this board should pay attention to this thread. "New opportunities aren't appreciated" is the message you are giving.
Good luck.
Quote:Sky, i certainly don't need a phone to tell me exactly, to
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Sky, i certainly don't need a phone to tell me exactly, to the penny, though KNOWING is better than not knowing and guessing (which is exactly what i'd be doing if I made one extra house payment). Look, i'm not insulting your knowledge, as another poster claims. |
soooo.....making a plan, following through with it, and paying an extra house payment per year, knowing full well where it will get you, is guessing in your mind? Seems to me that you apparently need that phone to tell you a whole lot more than youre thinking you do....
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I agree, this forum seems to be a great source for information. There are also many other sources of information available on the internet. The application i spoke of earlier is indeed a unique tool, and honestly, i do find it rather odd you and the other poster as moderators aren't the least bit interested in it, and would rather attack me in the process. I meant no harm. I find it valuable. |
I'm glad that you find it valuable. however, put yourself in my position....a day doesnt go by on this forum that some genius or other doesnt come along trying to solicit on this forum. The terms of service for this forum are there for a reason. I certainly did not write them but I WILL enforce them. The fact is this--we see all kinds of claims made by all kinds of people. We volunteer our time and efforts to run this forum. We do not get paid to be here. In addition to being here, I have a full time job, a family, a church that I am very involved in and a band that I play in. I also help to run another online forum. In short, none of us has time to investigate every single "WOW, THIS IS GREAT!!!" claim that gets made here by visitors that couldnt even bother to register on the site. So, you will forgive my short leash on patience....we routinely delete a dozen threads a day just like this one.
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I'm not going to give out the website, since that's not why i'm here. |
How do you expect anyone to tell the difference? you post a guest post, with no one knowing anything about you, and you think that we're going to take you seriously in the face of all the stuff we see here everyday? You dont know what the moderating staff has to sift through on a regular basis here, and therefore you dont know what thought process was used to respond to your post. Maybe you need to use a little more consideration in such things--there is always a reason behind someone's actions. Maybe, rather than assuming what you have assumed, you could have taken a look around here, and followed the terms of service without having to be told to. Maybe then you would have gotten a different response.
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After re-reading the posts again, wow, you two are certainly attacking me for no reason. Are you serious? It's this kind of moderation that would seem to want to keep people from learning there are other sources of information available. As a public site for sharing information, i would expect a different reaction. |
Of course you would. The people who anonymously post things like "hot gay sex", "best internet dating site ever", "come consolidate your bills with me, I'm the best" and on and on and on and on and on....they probably expected a different response altogether as well. As for my initial reaction to your post, know this--it wasnt attacking, it was TRUTH. I simply said that if you had instead used the tried-and-true, well-known method of one more mortgage payment a year, you would have saved MORE than the $39K you mentioned. If thats really such a source of discomfort to you that you feel it was an attack, then the problem lies with you, not with me. Look at the numbers that you yourself posted....
"1400 a month mortgage"
Some simple math would have shown you this....at that much a month, you pay $16,800 each year on your mortgage. Now, here's where the lesson lies. If you take a 30 year note, and chop 14 years off of it, you get to the 16 years I mentioned. So.....youre saving 14 years of having to pay $16,800 per year by this method. You do the math......your "incredible" app that "isnt guessing" saves you the equivalent of less than three years of your mortgage payments. I just told you how to save yourself 14 years.....without costing you a dime to find out how to do it. YOU DO THE MATH....tell me which one will work better. Like I said, I only spoke fact. YOU then responded by putting words in my mouth. And you want to talk about ME being rude?
In case your calculator is broken, that 14 years of mortgage payments comes to $235,000.00....that is money you could save with one well-known plan. You do the math....tell me again all about how much better your app works out for you.
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People who follow you on this board should pay attention to this thread. "New opportunities aren't appreciated" is the message you are giving. |
Um, no....the message I am giving is twofold....
1--USE COMMON SENSE. Youre talking about how much better it is for you that youre going to save $39K.....meanwhile, I showed you one easy and proven way to save more than FIVE TIMES AS MUCH MONEY....and you criticized me for it. Good call, Mr. Wizard.....if you werent so busy putting words in my post that I never said myself you could have learned something.
2--FOLLOW THE TERMS OF SERVICE HERE OR DO NOT POST HERE. That one shouldnt need any further explanation.
You and this forum are rude, not helpful, and arrogant. Wow, i
You and this forum are rude, not helpful, and arrogant. Wow, i cannot believe how you are accusing me of the very thing you are doing. I am already paying extra on my mortgage, and i plan on paying it off in 16 years, and with this calculator, i was able to justify and realize that if i paid an extra $300 toward my debts, i can be debt free, EVEN FASTER, in 5 years earlier than i had originally planned with the old 'guess and hope' method you are touting as magic.
Brother, you are about as rude a moderator as i have ever heard of. You are the one who as accused me of being a criminal, and yet i came here to help, to give out information that may help some people. If anyone who comes onto this board with good information as i have done and you treat them in this way, i can see why they wouldn't come back.
I reiterate, the people reading this thread should pay attention to your message(s). You claim to do this for free and i'm assuming in an altruistic vein, a church patron/believer, though the only thing you've given is to attack where none was necessary or warranted.
I wasn't posting as a guest. The first post i posted was from an account i created FOR THE VERY REASON of posting non-anonymously. The second post, i happened not to sign in, and now i'm also posting with the same account.
If you 'help' people in this fashion, i'm surprised folks even listen to advice here.
Remember, YOU accused me of doing this for some crazy reasons, not me.
READERS: pay attention.
goodbye.
Quote:You and this forum are rude, not helpful, and arrogant. A
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You and this forum are rude, not helpful, and arrogant. |
As already pointed out, my first post to you was not at all rude or arrogant. Not even a little bit. It was only when you began to try to put words into my post that I never said that I decided you couldnt be taken seriously after all. And with this latest post, you have now proven that you cannot be taken seriously....read on, tough guy....
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Wow, i cannot believe how you are accusing me of the very thing you are doing. |
I accused you of what, exactly? I brought up the possibility that you are just another passer-by soliciting for your own good instead of the good of our members. Where exactly do you see me doing this? You dont know me....you dont know the time, effort, and even money I have spent out of my own pocket to help the people here. You dont have the first friggin clue. So dont even THINK of coming at me with crap like this. There's a list of people a mile long on this forum that I have personally helped with debt issues, tons of questions, even helping people who are in litigation with illegal debt collectors by preparing motions and doing research for them. What exactly have you done since you came here, other than change your story every post you make and make false claims about what I have said here?
Yeah, thats pretty much what I thought....
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I am already paying extra on my mortgage, and i plan on paying it off in 16 years, and with this calculator, i was able to justify and realize that if i paid an extra $300 toward my debts, i can be debt free, EVEN FASTER, |
Hang on a second here...didnt you tell us differently before? Why, yes, you sure did....isnt this what you said earlier on?
[QUOTE]My debt, if i pay my minumums and apply the extra from paid off loans to other debts, according to the tool will have me paying $424 at the end of my debt, in 21 years.
I do have the ability to apply $200-300 extra to the debts, and if I do this calculation with the tool, the total debt i now will have to pay is $385K.[/QUOTE]
So, when you first posted, you told us that you had the ability to pay the minimum required, plus an additional 200-300 above that. NOW, youre claiming that you have the ability to pay the minimums, PLUS EXTRA on your mortgage, PLUS that same additional 200-300 extra to other debts. In other words, when youre done lying, be sure to let us know. I'm certain you will have a massive audience here, waiting with baited breath for your return to reality. You made other references to not paying your mortgage down right now as well:
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Would it be better to pay off a low balance credit card first, before paying toward my condo? |
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Sky, i certainly don't need a phone to tell me exactly, to the penny, though KNOWING is better than not knowing and guessing (which is exactly what i'd be doing if I made one extra house payment) |
There you are even admitting that you dont pay the extra to your mortgage, because if you did, "you would only be guessing".....
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in 5 years earlier than i had originally planned with the old 'guess and hope' method you are touting as magic. |
What is to guess? Where is the hope required?? THIS IS MATHEMATICAL CERTAINTY, champ....NO GUESSING NEEDED. I already explained this to you, so why do you keep repeating the same old lie?? Interest is a value that can be definitely computed, no?? So, if you know how to do so, and you can work the numbers(or get someone to show you what to do with the numbers), where exactly is the guessing and hoping?? Now youre just talking out your back side. I never said it was MAGIC either, genius. I said it was proven, tried and true, and well known. And it truthfully is ALL of those things. Stop wasting our time with this crap already.
It's really funny how you made NO mention when listing out all the numbers that you were putting this extra money towards the mortgage....you made it clear what your total debt was, what the interest would take your total expenditures to, and what amount you would be saving on this plan. You said NOTHING about paying down the mortgage as well, in fact you clearly showed that you were "making the minimums" and an additional 200-300 towards other debts". You showed how you would need 21 years to pay off the total balances....$424,000....and then you said "it will now take me 5 years less", and "I will save $39K....."but here's the kicker....this will then take you 16 years to pay off. Isnt that what I already told you a 30 year note would be down to with this "so-called guesswork"?? You cannot consider the car loan making the time last longer because you did say you were paying the minimums already. So, the car note, what--5 year note? 6 maybe? Or are you one of those smart guys that financed a new car for 7 years?? either way it doesnt matter because it would be paid off long before you get to 16 years. So, your own post says "I'll be done in 16 years". And then, you post again, saying "i can be debt free, EVEN FASTER, in 5 years earlier than i had originally planned with the old 'guess and hope' method you are touting as magic." So....16 years like you said in your first post....or "five years sooner than the 16 years skydivr mentioned" as you just told us? And then, if all else fails to get through to you, look at your original numbers. You clearly totaled up the debts with interest. And then you came up with "Look, I am gonna save $39K!!!"--this proves to me that you are NOT sending the extra mortgage payment like you now claim you are doing. If you were, as I showed, you would be saving over $200K on top of that so-called $39K. The old adage rings true...."if you give a dishonest man enough rope he will soon enough hang himself". Every new post you make contradicts the last one you made. Gee, I wonder why the big bad evil moderator isnt taking you seriously...
Are you getting it yet? Is it finally hitting you why youre not being taken seriously?? youre trying to offer advice to people and you cannot even keep your own so-called story straight! THIS is why you got attitude from me--because no one on this forum has time for this kind of BS. The people here need REAL HELP, not someone who cant stop changing his own tune. Some people come here DESPERATE for help. And I do things the way I do because THOSE people CANNOT AFFORD to be taken for a ride by some clown who lies from one post to another, cant make up his own mind as to what exactly he is even doing, and then gets all bent when I call him out on it. So, in the end, if your getting pissed at me prevents someone else here from buying into your ever-changing line of crap, then it was worth it to me. Many people who come here are about to lose their homes, their bank accounts, EVERYTHING....and they are looking for REAL HELP, not someone who's just gonna spin a different version of their original story with every new post.
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Brother, you are about as rude a moderator as i have ever heard of. You are the one who as accused me of being a criminal, and yet i came here to help, to give out information that may help some people. |
WHOA, I did WHAT?? I accused you of BEING A CRIMINAL?? Now youre really smoking something funny....I never once said or implied ANYTHING remotely close. Like I said, here you go....putting words in my mouth again. THE TRUTH NEVER NEEDS A LIE TO STAND ON...and right now, youre lying out your back side with this nonsense....
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I reiterate, the people reading this thread should pay attention to your message(s). You claim to do this for free and i'm assuming in an altruistic vein, a church patron/believer, though the only thing you've given is to attack where none was necessary or warranted. |
You came in here violating the terms of service. I informed you of this and POLITELY offered my opinion on your post. There is NOTHING wrong with that, so get the flipping hell over yourself. you then began to change your claims and your story. And then, I DID jump on it, because as a moderator here I have the obligation to speak up against false information and people talking out their south mouth. You have been doing both all day. Are you done yet?? Or do I need to simply ban you to get this dishonest crap to stop?
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Remember, YOU accused me of doing this for some crazy reasons, not me. |
riiiight.....do me a favor, when you find the part where I supposedly called you a criminal, be sure to let us all know. In the meantime, seek life elsewhere.
Sky, you can certainly ban me is that is your desire. Silencing
Sky, you can certainly ban me is that is your desire. Silencing someone who you've just called a liar is an easy way to make sure you are perceived as being right, though you are not.
Galileo had the same problem when he reported to the Vatican that the world was indeed not the center of the universe, as the church liked their followers to believe. He spent a number of years in effective 'prison' for that, confined to his house, and unable to wake people up to the fact they were prisoners of misinformation and lies.
Facts:
Neglecting to state early on that I am actually paying extra toward my mortgage already doesn't necessarily warrant the venom you are pointing in my direction.
The criminal statement was that of violating your TOS (not my intent), which was an exaggeration, though your treatment of someone new to the board was certainly like I was one.
I came here to help, and if my message was not in the correct forum, I do certainly apologize.
Good day.
who mentioned banning you as seeing you post in circles is much
who mentioned banning you as seeing you post in circles is much too fun.i will say make a point instead of poting in circles or stop as skydiver(the nerve you calling him sky)presented a pretty good case,and you choose to either attack,put words in skydiver's mouth,or again post in circles.to close nobody spoke of banning you so again putting words in skydiver's mouth.geez.
Quote:Sky, you can certainly ban me is that is your desire.I cal
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Sky, you can certainly ban me is that is your desire. |
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Silencing someone who you've just called a liar is |
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an easy way to make sure you are perceived as being right, |
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though you are not. |
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Galileo had the same problem when he reported to the Vatican that the world was indeed not the center of the universe, as the church liked their followers to believe. He spent a number of years in effective 'prison' for that, confined to his house, and unable to wake people up to the fact they were prisoners of misinformation and lies. |
NO ONE "imprisoned" you, chief. you REALLY need a reality check here.
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Neglecting to state early on that I am actually paying extra toward my mortgage already doesn't necessarily warrant the venom you are pointing in my direction. |
"Hi, I'm Reality, have we met??"
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The criminal statement was that of violating your TOS |
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which was an exaggeration, though your treatment of someone new to the board was certainly like I was one. |
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I came here to help, and if my message was not in the correct forum, I do certainly apologize. |
This is the last post I will respond to. You have clearly dug yourself a nice hole. If you continue, I WILL ban you. Not because you think I "need the perception of being right", but because you are now only wasting everyone's time with dishonest claims and changing stories. If you want to post things like that on the internet, go write a novel....fiction works well for that kind of writing. It does not work here.