See how long until you are debt-free and how much interest you will pay. Raise the payment to see it shrink fast.
How the Debt Payoff Calculator works
The calculator simulates month-by-month payoff: interest accrues on the balance, your fixed payment covers it plus principal, until the balance reaches zero.
Example calculation
$8,000 at 22.9% APR with $300 a month takes about 38 months and roughly $3,300 in interest.
Tips for using the Debt Payoff Calculator
- Pay above the minimum to escape the interest trap.
- Use the avalanche method — highest APR first.
- Stop adding new charges while paying down.
Debt Payoff Calculator — frequently asked questions
- Why so slow?
- On high-APR debt, most of a small payment is interest, so the balance barely moves.
- Fastest method?
- Pay above the minimum and target the highest-APR balance first (avalanche method).
- Snowball or avalanche method?
- Avalanche (highest rate first) saves the most money; snowball (smallest balance first) builds motivation.
- Why does payoff take so long?
- On high-APR debt most of a small payment is interest, so principal barely moves.
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