August ’14 Feature Updates
Debt Details Changes
Lots of housekeeping in these recent updates; a lot of behind the scenes fixes and changes to the “debt details” page. The first thing you’ll notice is some more info in the “payment transactions” section. Now you have a previous balance and new balance fields so you can track balance changes more effectively.
Here are the other “debt detail” changes in no particular order:
- The next due date logic has been tweaked a little. Before it would just keep pushing the “next due date” out further if multiple payments were made in a month. Now it won’t push the next due date out past the end of the next month
- There were two bugs where “purchase” transactions weren’t calculated correctly; these have now been fixed.
- The balance will now be adjusted if a transaction is deleted. It will just add the amount of the payment back onto the balance. If you need to factor in accrued interest, then you’ll need to manually adjust the balance.
- If you delete the debt, the payment transactions will be deleted. These weren’t being cleaned out before and were affecting the “payments made this month” calculation.
As always, there may still be some bugs in there so please use the contact page to let me know and I’ll do my best to get it straightened out.
Student Loan debts
I’ve been getting a lot of feedback about student loan debts and how they can be added to the payment plan. Right now, there is problem with loans with low payments relative to the balance and interest rates. Undebt.it won’t let you put in a debt that has a minimum payment that’s too low to ever pay off the debt. However, some student loans use a graduated payment plan which adjusts the monthly payment. I’d like to get some more info from those of you who have loans before I put too much time into this. I’m looking for real-life examples that I can test with. The info I need is the basic stuff: interest rate, balance, monthly payment and what type of loan it is.