Pay Down Debt Worksheet
The Pay Down Debt Worksheet is where you list all debts to be included in your Pay Down Debt Plan. See an example.
List all creditors on the Pay Down Debt Worksheet, the total amount owed to each, interest rate for each debt, the original monthly payment amount, and any amount past due.
Do you have any higher priority creditors? You probably won't be able to negotiate any smaller payment with them. List the original monthly payment amount as the negotiated amount. Be sure to include any extra owed for past due amounts.
Look at the total amount owed column and the interest rate column. Decide which one is best to use for your Pay Down Debt Plan. Add the Pay Down Debt Accelerator amount to the debt with the smallest balance or highest interest whichever you choose to use for your plan.
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