Jul 12 2013

Introduction Video

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Hey I just wanted to post the new video that we just completed, It will show you in 3 minutes what the benefits are for using the www.DebtRollOff.com method. You will see some of the unique features that we have as well. Just go to the How it works page and click on Learn About Us Video on the right. I hope you all like it.

Jan 06 2013

How to Calculate Minimum Payments For Credit Cards

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Calculating Minimum Payments for Credit Cards.

If you’re trying to get a handle on your credit card debt situation, you’re going to have to learn about your credit card payments and how they are calculated. This way you can figure out how many months it will take to pay off your debt. The  best method for you to use is to take advantage of DebtRollOff’s site to do the calculations for you.   

  1. Login to DebtRollOff.com and go to MyDebtSite:
  2. Click the radio button Credit Cards, fill in the necessary information.
  3. Call your credit card company and ask the representative for the percentage that the company uses to calculate your minimum credit card payment. Due to recent regulations, many companies now have to set your minimum payment at as much as 4 percent of your balance each month and 14  percent as the annual interest rate on the card (APR).
  4. Some credit card companies use the 1 percent plus finance charges rule, especially for high-balance credit card customers, if this is your case then MyDebtSite will allow you to choose this option as well.
  5. DebtRollOff was designed and developed to make sure that you won’t ever have to worry about these types of calculations again.  Just enter your specific information and choose the amount that the credit card company said they use and it will automatically calculate the minimum payment amount for you.  However if the amount is less than $25, then the credit card companies and DebtRollOff will default to the payment to $25.
  6. Keep in mind that if you make new charges on your credit card account or changes to your DebtPlan, your principal balance will go up and the calculations will change. If this happens then DebtRollOff will request you to ReGenerate a new plan.  If you are committed to paying down your debt and using www.DebtRollOff.com, you have to cut up your cards.
Dec 31 2012

Fico Score

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What Goes Into Your FICO Score

Lenders use the FICO Score to help them determine the terms, conditions, and amount of your mortgage loan. The data that FICO considers in calculating that credit score falls into five categories, with the following average weightings…

Payment History–35% How you’ve handled credit cards, retail accounts, installment loans, finance company accounts, mortgages, etc. FICO also looks into public records such as bankruptcy, wage attachments, and collections. For payment delinquencies, they want to know, how much, how many, and how long ago they occurred.

Amounts Owed–30% What you owe, what types of accounts, and how many. The percentage of your credit line your balances typically use. The percent of the principal still owed on installment loans.

Length of Credit History–15% How long the account’s been opened, its specific type, and account activity.
New Credit–10% Number and proportion of recently opened accounts and recent credit inquiries. Time since account openings and credit inquiries. Is this a re-establishment of positive credit history following past payment problems?

Types of Credit Used–10% Number of and recent information on all the various types of accounts you use — credit cards, retail accounts, installment loans, mortgages, consumer finance accounts, etc.

Sep 06 2012

Why Use Us?

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DebtRollOff is a site that was created after years of frustration with Debt. I believe this site will be very useful in your journey to become Debt Free.
I have been working in the corporate world for over 25 years and have helped many fortune 500 companies improve thier processes and reduce thier costs.
You see, I was tired of seeing how the credit card companies continually try to take advantage of us everyday people and our small business community and not really providing you with much education on what they are getting you into or even providing you with a realistic view of what you are doing to yourself. They don’t even tell you how long you will be paying for the debt based on thier calculated minimum monthly payment. Not to mention the extra small font they send you which most of us never have read or will read.
What has happened is that the Web has evolved to where I can now provide you with an approach and plan that will show you how to become Debt Free. Once you’re Debt Free you can start growing your savings the way you always wanted to.
I was one of those people that have had debt all my life and didn’t know any different. I wasn’t one of the fortunate kids that had a parent or parents that taught me about debt or even knew about it themselves. I was raised by a single parent who was always in debt and she couldn’t pay for my college, so this is where my debt began. It all started with my school loans as I am sure many of you can relate to. Like most people, I paid the minimum payments due and kept trucking along, not knowing what I was doing to myself. After graduating, I bought a car, furniture, TV and eventually a house digging myself deeper into debt. It took me a long time, but when I reached my 30’s, I finally figured it out and decided to try and pay off all my debt. I did pretty good with a few stock choices that I had made, which allowed me to pay off all the debt. So I was Debt Free minus a house at 30 yrs old.
As life changes and events occur, I ended up getting married and within 4 months, I was in the hole again. Which was not a pleasant feeling. After 6 months I found out my wife was unfaithful and using my credit cards unbeknownst to me, so we got a divorce. Stupid me I thought I was covered, but NOOOO. She put me back in Debt, this time with over $80,000.
So once again, I started trying to figure out a plan to get myself out of debt, but this time there were no stocks to pay off the debt because I took a loss along with everyone else in the country. I created an excel plan and updated it constantly. I must have spent 2 -3 hours/day for a 2 years trying to understanding and research a method on how to reduce my debt. I hated debt and knew there was a way and plan for me. Fast forward 3 years, I mentioned to a friend that I created an Excel program that helped me get myself out of debt, however it was extremely labor intensive, required lots of tweaking, not user friendly and was very hard to maintain. However the plan I created provided me with a path to finally be Debt Free Again. YEAA!!!!
I started to share my story with others, which is embarrasing and difficult to talk about in itself. Come to find out every one I shared my story with, said they had experienced something or knew of someone in a similar or worse situation than mine. I started realizing, that I should be trying to help out others and put my many years of expertise and knowledge to good use and pay it forward.  So this is my journey to begin helping others understand and develp a plan to get out of debt. This is how the how the DebtRollOff site was born.
The site has a simple and easy to follow method that is seamless to use.  DebtRolOff allows you to create your very own personalized plan using what you pay towards your debt today as long as you are paying the minimum payment.
Our site allow you to create a PERSONALIZED and OPTIMIZED DEBTPLAN and update it monthly.  It is so easy to use and update that we even provide you with several ways to help you in reminding you when to pay your debt.  DebtRollOff  provides you with a way to track your debt and update it monthly.  All this and more at a cost, which is less than a trip to the movies with you and your loved one.
I am sure that if the credit card companies knew we had this they would try to shut us down.
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