Step 3: Confidential Debt Analysis Worksheet
Let's do some homework. I know, I know. Believe us, it'll be worth it.
Homework cheat sheet instructions to complete this form
Instructions To Complete This Form
PREPARATION: To prepare for this Confidential Debt Analysis, make a thorough list of all of your loan based debt, income sources and monthly expenditures (bills). After you have made this list, find your paper statements or have access to your online accounts. Doing this in advance will help prevent the need for a “scavenger hunt” while filling out the worksheet.
For a paper version “scratch pad”, please print this WORKSHEET, as many as you like.
IMPORTANT NOTE: At no time does this form ask for: Social Security numbers, account numbers or any personal information to your private accounts. For this analysis, we only need your loan amounts, interest percentages and current balances for your items.
Items within this worksheet may or may not apply. As you begin your form, place a check mark in the box that applies to the type of debt you have. A drop down field area will appear for you to enter the information for that specific debt.
If you have more than one of any items in a category, click the plus sign at the end of the row and an additional line of entry will appear. You may add as many lines as necessary. Please enter all of the information required. Without all of the requested information, we cannot process the analysis. All fields must be filled.
ADDED BONUS: Located at the very bottom of this form, there is a “Save and Continue Later” option. If you should have the need to leave the form during the data entry, prior to completion, select this option. A link will be generated to help you pick up right where you left off.
Section 1: Client Contact Information
In order to complete this form, you will need to enter some basic information. As we process your Free Confidential Analysis, the system requires us to enter information for each unique user.
Section 2: Mortgage & HELOC
In this section, you will need to have access to your paper or online statements for your Mortgage or HELOC (Home Equity Line of Credit). All fields must be filled.
Section 3: Creditors
In this section, you will need to have access to your paper or online statements for any loans such as student loans, car loans (not leases), personal loans or business loans and lines of credit (not credit cards).
Section 4: Credit Cards
In this section, you will need to have access to your paper or online statements for any credit cards you own. Major credit cards and department store cards. If you have cards that are open, but have a “0” balance, enter them as well. Be sure to include all of the requested data.
Section 5: Income
Please list all of your incomes in a monthly format. If you are paid weekly, multiply by 4. Bi-weekly, multiply by 2. All sources of monthly income are required.
Section 6: Banking
Please supply the current balances of your checking and savings. These numbers are factored into the programs projection algorithm. We do not require to the penny; a close estimation of your balances is fine. If you do not have a savings account, we will create one in our system with a minimum balance of $1.
Section 7: Monthly Expenditures
List the monthly payments you make on all of your regular survival items. If you make weekly payments, multiply by 4 for a monthly total. If you make quarterly payments, divide by 3 for the monthly amount. For items that vary monthly, look at your last 6 payments and calculate your average amount. This would be for utilities, vehicle expense, insurances, leases and the like.
After you submit your form, please allow Smart Debt 24 hours to process this information. We may need to communicate with you if any of your data is incomplete. This rarely happens, but please be aware that we will contact you through email for the required clarity.