Debt payoff calculator – Figure out how quickly you can be debt free
Paying off debts is nothing less than winning a ferocious battle. You can obviously consolidate your debts to win the battle. But honestly speaking, that would help you win only 50% of the battle. You still need a strategic plan to win the rest of the battle.
Our debt payoff calculator helps you to accelerate your payment process.
The process is plain and simple.
Just increase your monthly payments on your credit cards and loans. Make more payments towards your consolidated loan’s balance. You can save thousands on interest and get out of debt quickly.
The choice is yours. Either make larger monthly payments on your credit cards and get out of debt quickly or make fixed monthly payments and calculate how much you have to pay.
Steps to use before using the debt payoff calculator
Gather your recent statements of credit cards. Check the following items in your statements:
- Your current balance
- Interest rate you have to pay
- Your monthly payments
Steps to use the debt repayment calculator
How many credit cards do you want to include in the payment? Add them in the calculator.
Add your current balance, interest, and monthly payment amount in the calculator.
|Credit Card||Current Balance ($)||Interest (% p.a.)||Monthly Payment ($)|
And, you’re done.
our amortization schedule is right in front of you. You can find out exactly how much you have to pay and how long to pay off debts.