Debt Quencher???

Bankesmom1

I used to use Debt quencher on my MacBook Air. It is no longer supported. Does anyone have familiarity with this product? Does anyone know if there is anything similar to that in Quicken?

Jim_Harman

If you summarize what Debt Quencher does, we might be able to help.

Bankesmom1

you could list debt by amount and interest rate and minimum payment required. Then Debt Quencher would break it down into total interest paid along with pay off date. You could see what changing payment amounts would do to interest paid and payoff date. Multiple loans all in one view. Say for instance , the minimum payment due for all loans was $800 but you wanted to pay 1200 a month, it would tell you where to place the extra money for the most cost savings.

Bankesmom1

it was helpful to print out the payment schedule for each loan and watch them go down.

Jon

There's a "What If" tab for each loan where you can see what would happen if you make extra principal payments (either a one-time sum or an extra amount each month), or if you want to pay off the loan by a specific date it will tell you how much extra to pay each month. But it won't look at multiple loans and tell you which ones to pay off first, or do any other kind of advanced debt reduction planning.

Bankesmom1

Thanks for your answers. I appreciate your time and expertise.