Updated over 5 years ago on . Most recent reply
"DebtShredder" and other schemes
A friend recently introduced me to this "debt shredder" product, which they claim will do things like automatically structure your debt repayments (such as a mortgage) in such a way as to decrease total interest you end up paying.
Has anyone looked into this specifically or other similar products? I'm assuming the creative debt repayment strategies themselves work (
13th month, etc), but for the cost of the software is not insignificant. Additionally, I am generally low on debt (no credit card debt, no car payment, no outstanding bills, high credit rating) - just my student loans (which will be forgiven with about another year and a half worth of payments through PSLF) and shortly my mortgage.
If you have any experience with this industry or the 'advanced' payment techniques? Worthwhile? Scam? Doable without the fancy software they're trying to sell?