Wednesday, October 29, 2008

Debt Reduction Need Help Paying Debt

Q. There is definately something wrong with the debt
reduction planner. I’ve got my credit card info in there
and it’s telling me that I’ll be out of debt by 1-06-2004
paying $100 dollars a month with $2000.00 worth of
debt????? I’m no math wizard or anything but isn’t
there something wrong with this picture Is there
something special that I need to do to set this up
correctly or what? What am I missing here?
Thanks in advance for any help
A. First, go to Tools, Options, Planner and reset the Debt Plan. Then try to
add the credit card in again paying close attention to the dialogue boxes
that Money presents you with when adding it back. It may ask you if the
bill’s already been paid this month, etc. Then look at the payoff schedule
by month instead of the line graph (there is a drop down at the upper left)
to see if the proper amount is now allocated in the first month.

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