Debt Payoff Calculator

Use our Debt Payoff Calculator to plan how to clear several debts and see when you will be debt-free.

Enter each debt’s balance, interest rate and minimum payment, and how much extra you can pay each month.

Choose the avalanche method (highest interest rate first, usually the cheapest) or the snowball method (smallest balance first, for quick wins) — every debt keeps getting its minimum, the extra goes to one debt at a time, and when a debt is paid off its payment rolls on to the next.

Compare both methods with paying only the minimums, see when each debt is gone, follow the month-by-month schedule, or enter a target date to find the extra payment you need. To see whether one consolidation loan would cost less, use our Debt Consolidation Calculator; to plan a single card on its own, our Credit Card Payoff Time Calculator.