This snowballed amount is then apply to the payment of the next debt in the payoff order. When a debt is paid off, its minimum payment amount will add to the Extra Payment amount. The Extra Payment amount together with minimum payment amount will be paid to the first debt. Under Snowball method, you pay the minimum payment amount for each debt except for the first debt in your payoff order. Payoff order is used when you turned on the Snowball method.The debt with the lowest interest rate will be the first debt targeted to pay off under this plan. For example "Lowest Interest" payoff plan means the debts are ordered by the interest rate from lowest to highest. Payoff plan is the payoff order of your debts.The planned payment amount of each debt is automatically set when you turn on the Snowball method and is used to calculate interest payment and payoff date. Planned payment is not editable when Snowball method is turned on.This will bring out the "Edit Debt" screen for editing or to remove a debt. To edit the debt detail, on the main Debts table, tap on the blue color disclosure button at the right end of a debt. How do I edit debt detail or to remove a debt?.
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