TaxCalc MyDebtCruncher
If you've got credit card debt then My Debt Cruncher is the product for you. In three SimpleSteps®, you could start the journey to becoming 'debt savvy' and work your way towards 'debt free status'.
Our thoughtfully designed, step by step approach, helps you tackle your debt in bite size chunks.
- You start at the beginning and 'Face' your debt. Here you simply gather your credit card statements, face your outstanding amount, find the APR % or monthly interest rate and then start entering the information into the program.
- Next step is to 'Fix' your debt and our 'Reality Checker' shows you just how much money you are wasting every year on stuff you don't need – money you can use to pay off your cards.
- The final step is to focus on a 'Positive Outcome' and 'Finish' with your debt. We show you just how to beat the bankers by banishing minimum payments and never paying them again – we show you why and how! Lenders aren't being kind allowing you to pay off your debt this way – they love it! It earns them millions, so let's stop it now!
Should you need more convincing, then we show you just how much 'paying the minimum' actually costs you and how long it will take to pay off your cards if you continue to only pay this way. We'll also show you the staggering effect of increasing your repayments by just a few pounds each month and shaving a huge amount off your debt.
So come on, with My Debt Cruncher you can Face it, Fix it and Finish it.
Full Version (Download - £9.99)
What You Will Need
To get the best out of My Debt Cruncher you will need to obtain the following pieces of information about each credit or store card you have:
| For each card (maximum 10): |
Minimum Value My Debt Cruncher will accept |
Maximum Value My Debt Cruncher will accept |
| Outstanding Balance |
£1 |
£50,000 |
| APR% (Annual Percentage Rate) |
1% |
75% |
| Required Monthly Minimum %* |
2% |
10% |
| Required Monthly Minimum £* |
£5 |
£50 |
*The most obscure piece of information you will need is likely to be the minimum percentage your card issuer requires you to repay every month. This is usually between 2% - 10%.
The percentage amount can normally be found on your credit card statement, alternatively you can contact your card issuer for clarification. |
Features
- Easy to use, no-nonsense data entry with video help and hover-over messaging to help you glide through the program.
- Enter up to 10 credit or store cards – all editable at any time. You'll need your credit card statements to hand to make sure you get more accurate results.
- Once details are entered, we'll calculate the staggering amount of interest you'll be charged if you continue to only pay the minimum each month.
- We'll also work out how long it will take you to pay off each of your cards.
- With our 'Reality Checker', we'll help you recognise just exactly what you're spending your money on and how much those impulse buys are costing you each year.
- We'll show you the vast difference in the interest and repayment time if you use that wasted cash and increase your monthly payments by just a few £'s.
- You can also see what happens to the interest and repayment time if you re-finance and take out a loan to pay off your cards.
- A useful Interest Rate Convertor converts your Monthly Interest Rate (MIR%) to an accurate Annual Percentage Rate (APR%).
- Use the 'Chart Views' to see your financial status in picture format.
- A full glossary to help you understand all the financial jargon.
Minimum Spec
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For TaxCalc's Debt Cruncher to run efficiently, please make sure you have the following Minimum System Specifications on your PC:
- Windows XP 32 bit
- Windows Vista 32 bit
- Windows Vista 64 bit
- Windows 7
We advise that all appropriate Windows Updates are applied to your operating system. Please go to http://windowsupdate.microsoft.com for details.
You will need:
- Pentium II Processor (or compatible) with 450 MHz (or an 800MHz processor if running Windows Vista)
Memory Requirements:
- 256 MB of RAM for Windows XP
- 512 MB of RAM for Windows Vista and Windows 7
Display Requirements:
- 1024×768 or higher with 256 colours (or higher)
Disk Space:
You will also need:
- Internet Connection to run live updates
- Adobe Reader to open the Glossary and v10 of the Firefox version of Adobe Flash Player to play the videos. If you don't already have these, we will help you to install them once you have the program
Please be aware:
These are the minimum system requirements for Taxcalc's Debt Cruncher to run. Depending on other applications you are running and other unknown factors you may be required to have higher specification hardware than is detailed here (e.g. more RAM) to give you a more enjoyable experience of the product.
Other Operating Systems:
We do have some customers that run Windows emulation software to enable the use of Taxcalc’s Debt Cruncher on other Operating Systems (e.g. MAC OS). Although we have had some positive feedback on this we do not officially support the use of TaxCalc’s Debt Cruncher on non-windows Operating Systems at this time.
