How does the debt elimination plan work?
The Excite Accelerated Payment Calculator figures out the debts you should pay first and how much you should pay toward them. Then it rolls down the hill like a snowball effect. When you pay off Debt #1, you apply the money you were paying on Debt #1 to your monthly payment for Debt #2. When Debt #2 gets paid off, you apply the money you were paying on Debts #1 and #2 and apply it to the payment of Debt #3 and so on. Following this debt management plan saves you thousands of dollars in finance charges.
