How Much Do I Owe – Debt Inventory
Click the link below to view an example of a Debt Inventory Worksheet. You may use this worksheet or use whatever debt inventory tool you have found that works for you.
A debt inventory is a tool we can use to determine how much we owe. A debt inventory provides information to help us know how much we owe. If we get behind in our debt, we can use the information to create a debt repayment plan.
List the type of debt that you owe:
2. List the name of the lender.
3. List the name of the borrower.
*Are you solely responsible for the debt?
*Did some one else co-sign the debt with you?
4. What is the initial amount of the loan?
5. What is the month and year that the money was borrowed?
6. Is the debt secured?
*A secured debt is guaranteed by collateral.
*Collateral is property that is pledged at the time the loan is made.
*The pledged property will be used for repayment if loan is not repaid as agreed.
7. What is the interest rate?
8. What is the length of the loan?
9. What is the monthly payment?
10. What is the payment due date?
11. What is the total balance due?
12. What date was the last payment made?
13. In the monthly payment column, for all of your debts, sum the total of your monthly payments.
14. In the total balance due column, sum the total balance of all your debts.