PAYING OFF YOUR LOANS FASTER CAN HELP YOU DRASTICALLY SAVE MONEY
HOW PAY DOWN MY DEBT PAYS OFF DEBT FASTER
Biweekly payments also referred to as “accelerated payments” is a frequently referenced strategy to help pay off your debt faster. It’s popular because people like budgeting for a monthly loan payment by breaking it into two smaller amounts.
Pay Down My Debt takes your regular monthly payment and divides it in half, so you budget for a half-payment every two weeks.
We pay your lender every month and during a year, we make two extra half-payments to principal.
By ensuring the extra dollars are applied correctly, you’ll pay down your principal and build equity faster, save on costly interest payments and fast track your loan payoff!
Your lender terms don’t change, but the amount of interest you pay to the bank and length of time you’ll be paying it off will!
An accelerated mortgage payment plan can help eliminate your debt faster, adding more money to your pocket. Use our bi-weekly mortgage calculator to find out how much money you could be saving.
If your car payment is higher than you’d like each month, then it’s time to make some changes. Find out how bi-weekly payments can help you pay off your auto loan faster.
More than 44 million Americans have student loan debt. By increasing the amount you pay each month, you can save money and pay off your loans much quicker.
High Credit Card Balances
The average American family has over $8,300 worth of credit card debt. Making only minimum payments each month means it would take years to pay off your balance. By accelerating your payments, you can save money and become debt free sooner.
Automated Bill Payments
Never miss another loan or bill payment again. With our automated payments program, you can make all your payments in one place. Just set it up and we’ll take care of the rest each month.
What Personal Finance Media Think of Pay Down My Debt!
“If you need a nudge to finally pay off your debt, then you may want to look into the PDMD service.” Making Sense of Cents
“PDMD uses smart #financial strategies to automate & reduce your outstanding balances much faster than normal.” Principles of Increase
“With PDMD, you don’t have to worry about missing payments or wasting #money on interest.” My Debt Epiphany
“PDMD is a great low cost & convenient service that helps ensure your #loan payments are paid on time.” High Fiving Dollars
Personal finance experts like David Bach, Dave Ramsey and Suze Orman all endorse biweekly payments.
SIGN UP AND YOU'LL RECEIVE MANY OTHER VALUABLE BENEFITS, INCLUDING:
Accelerated or standard automatic payments for 3 loans/bills
An accountability system with reminders and payoff tracking
Monthly credit score
Credit monitoring to protect against identity theft from TransUnion
No closing costs, no refinancing, no hidden fees, no cancellation fees
Custom loan repayment schedules
BENEFITS OF PAYING OFF DEBT FASTER
Beyond the obvious benefit of being debt free sooner there are many other benefits of fast tracking your loan payoff.
Save money in interest
Lower your interest charges without having to refinance your loan
Build equity faster
For instance, you generally need to have about 20% equity in your home if you want to eliminate mortgage insurance or take out a home equity line of credit for home improvement.
JOIN TODAY TO START SAVING AND AVOID MISSING PAYMENTS