Pictures of chickens, flowers, wheat, a boy looking through a magnifying glass, irrigation pipe, soybean pods, and fruits and vegetables.

Cooperative Extension Service

Search | Publications | Jobs | Personnel Directory | Links
County Offices | Departments

About Us

Find Us

For the Media

Agriculture

Business & Communities

Families & Consumers

Early Childhood
      Professional Development
Emergency Preparedness
Expanded Food &
      Nutrition Program
Family Life
Food Stamp
      Nutrition Education
Money
Volunteer Organizations

Links
Newsletters

Health & Nutrition

Home & Garden

Natural Resources

4-H Youth Development

Public Policy Center

For Faculty & Staff

Giving

Dale Bumpers College
of Agricultural, Food &
Life Sciences

Division Home

Agricultural Experiment
      Station Home

Cooperative Extension
      Service Home

Make A Do-It-Yourself Debt Repayment Plan

How much money do you owe others? Some families have no idea. If you've never listed all of your debts and calculated the grand total, now's the time to do so. The bottom line may frighten you; however, don't panic. Instead, develop a plan that will put you on the road to being debt free.

PowerPay©, a computer software program, developed by Utah State University, can help you make your own debt repayment plan. PowerPay© will analyze your current debts and print out a calendar that shows you exactly when and how to make debt payments. The analysis also shows how much money you'll save and how many months it will take to repay debts by making "power payments." When you make power payments, it means that as soon as one debt is totally repaid, the monthly payment for that loan is then applied to another debt. Money from repaid loans continue to be combined and used to pay off other debts until all are totally repaid.

To obtain a free copy of a PowerPay© analysis, contact the office of the University of Arkansas Cooperative Extension Service in the county where you live. The Family and Consumer Sciences agent will provide you with a PowerPay© Credit Payment Worksheet. Complete the worksheet by listing all of your current debts, the balance owed, the amount of your monthly payment and the annual percentage rate charged for each debt. Return this information to the county office and you will receive a plan for repaying your debts that will save you money and help you to pay off debts months earlier. All of this is confidential and free of charge.

More information about paying debts can be found in:

• Trim Your Credit Line (Financial Fitness Series) - FSHEC 44

Back to Credit and Borrowing