Debt settlement calculator – Check your savings snapshot
Try our debt settlement calculator to get a snapshot of your monthly payments and savings when you plan to settle your credit card bills.
When you settle credit card bills, you have to pay much lower than what you owe. But how much lower will your payment be? How much can you save ultimately? Our debt negotiation calculator can help you figure out how much you have to pay, how much you can save, and when you can expect to be debt-free.
How much can you save through a debt settlement plan?
Based on the figures you have entered in the calculator, your total monthly payments, savings, and the payment period are given below:
Disclaimer: Please don’t use symbols or special characters. The accuracy of the debt settlement calculator can’t be guaranteed since much depends on the individual situation and figures.
Can you use this calculator for other types of debts?
Apart from credit card bills, the debt negotiation calculator can be used for other types of debts like:
- Medical bills
- Utility bills
- Unsecured personal loans
- Home loans
- Cell phone bills
- Payday loans
- Store card bills
- Collection accounts
On what principle does the debt settlement calculator work?
Our online debt settlement calculator works on the principle of debt negotiation. It works on the principle that when you settle your bills, creditors agree to reduce your total outstanding balance.
The debt settlement process is usually successful for past-due accounts. However, our calculator doesn’t differentiate between past due accounts and current accounts. The calculator also doesn’t take the settlement fees into account. You have to add the fees separately.
Do you have to subscribe to the calculator?
You don’t have to pay any subscription fee since this is a free debt settlement calculator. Just enter the figures and let the calculator work its magic.
Why should you use an online debt settlement calculator?
The top reasons to use this calculator are given below:
- You can see how much money you would have to pay in debt settlement.
- You can compare your potential savings on debt settlement with other debt-relief options like debt consolidation and debt management.
- You can calculate your monthly payments and savings in a debt settlement plan with the help of our calculator. Again, you can use a debt consolidation calculator to figure out your monthly payments and savings through a consolidation plan. This way you can determine which debt relief option is feasible for you, and make the best decision accordingly.
To know more about debt settlement, read the Debt settlement plan – How much can it help to reduce?