What is my debt payoff date?
List your debts, pick how to pay them down, and see the month you become debt-free, the interest it costs, and what an extra payment saves.
- Months to be debt-free
- 30
Paying $895.00 a month, you are debt-free in 30 months and pay $3,733.53 in interest.
- Paid each month
- $895.00
- Total interest
- $3,733.53
- Total paid
- $26,333.53
- Payoff order
- Medical bill (month 18), Credit card (month 22), Personal loan (month 25), Car loan (month 30)
- Debt-free date
- March 2029
- Interest the extra saves
- $2,787.28
- Months sooner
- 12
- Interest, other method
- $4,269.79
- Saved vs other method
- $536.27
- Months
- 30
Answer for the example date Wednesday, September 30, 2026. It changes to today's date when the page loads.
Months to be debt-free: 30. Paying $895.00 a month, you are debt-free in 30 months and pay $3,733.53 in interest.
How fast does the debt fall?
Where does each year of payments go?
What does every month look like?
The results are estimates for information only. They are not financial, tax, or legal advice. Check the numbers with your lender or a qualified professional before you decide. Terms of use
How to calculate
Computes the months to be debt-free, the total interest, and the payoff order for up to ten debts paid with a fixed monthly budget by the avalanche (highest APR first) or snowball (smallest balance first) method.
Example with the default inputs (Your debts [Name Credit card, Balance $7,500.00, APR 24.9%, Minimum payment $225.00; Name Medical bill, Balance $900.00, APR 0%, Minimum payment $50.00; Name Car loan, Balance $11,000.00, APR 6.9%, Minimum payment $310.00; Name Personal loan, Balance $3,200.00, APR 13.5%, Minimum payment $110.00], Extra each month $200.00, Pay off first Highest APR (avalanche), Start date September 30, 2026) on the example date Wednesday, September 30, 2026: Paying $895.00 a month, you are debt-free in 30 months and pay $3,733.53 in interest.
Method: Each month: interest = balance × APR ÷ 1200 on every debt; pay each debt its monthly payment; the rest of the budget (all the payments plus the extra) goes to the debts in payoff order, so a paid-off debt’s payment rolls into the next.
- Interest is charged monthly on each balance at its APR ÷ 12; rates and payments do not change.
- The monthly budget stays the same until every debt is paid off, so the payment of a paid-off debt rolls to the next one.
- Snowball order is by the balances you enter (smallest first); avalanche order is by APR (highest first); ties keep the order of the rows.
- No new charges are added to the debts.
- Values are not rounded to the cent between months; only the display is rounded.
Worked examples
Each example is checked against the calculator on every build.
- Your debts Credit card 7500 24.9 225; Medical bill 900 0 50; Car loan 11000 6.9 310; Personal loan 3200 13.5 110, Extra each month $200.00, Pay off first Highest APR (avalanche) gives Months to be debt-free 30, Paid each month $895.00, Total interest $3,733.53, Payoff order Medical bill (month 18), Credit card (month 22), Personal loan (month 25), Car loan (month 30), Interest the extra saves $2,787.28, Months sooner 12, Interest, other method $4,269.79, Saved vs other method $536.27.Source: Consumer Financial Protection Bureau, How to reduce your debt. https://www.consumerfinance.gov/about-us/blog/how-reduce-your-debt/
- Your debts Credit card 7500 24.9 225; Medical bill 900 0 50; Car loan 11000 6.9 310; Personal loan 3200 13.5 110, Extra each month $200.00, Pay off first Smallest balance (snowball) gives Months to be debt-free 31, Total interest $4,269.79, Payoff order Medical bill (month 4), Personal loan (month 13), Credit card (month 26), Car loan (month 31), Saved vs other method -$536.27.Source: Consumer Financial Protection Bureau, How to reduce your debt. https://www.consumerfinance.gov/about-us/blog/how-reduce-your-debt/
- Your debts A 500 0 50; B 1500 0 50, Extra each month $100.00, Pay off first Smallest balance (snowball), Start date 2026-10-01 gives Months to be debt-free 10, Total interest $0.00, Total paid $2,000.00, Months sooner 10, Interest the extra saves $0.00, Debt-free date 2027-08-01.Source: Consumer Financial Protection Bureau, How to reduce your debt. https://www.consumerfinance.gov/about-us/blog/how-reduce-your-debt/
How it works
Each debt has a balance, an APR, and a monthly payment. The monthly budget is the sum of every debt's payment plus the extra. It stays the same every month.
- Payoff order. Avalanche: highest APR first. Snowball: smallest balance first, by the balances you enter. Ties keep the order of the rows. The order is set once, at the start.
- Each month, for every debt that is not yet paid off: add interest = balance × APR ÷ 1200.
- Then pay each debt its monthly payment, or its whole balance when that is smaller.
- Then the rest of the budget goes to the debts in payoff order: the first debt with a balance gets as much as it needs, then the next, until the budget is used up. So when a debt is paid off, its payment rolls to the next debt in the order.
- Totals: the months until every balance is 0; total interest is the sum of every month's interest; total paid is what you owe today plus the interest. The debt-free date, with a start date, is that many months after it. Each debt's payoff month is the month its balance reaches 0; the payoff order lists the debts by that month (ties in row order).
- No answer: when the budget is not more than the first month's interest on all the debts, or when the plan runs past 600 months (50 years).
- Interest the extra saves: the same order with no extra payment, minus the interest with it; months sooner is the difference in months. It is shown when the extra is more than 0 and the plan with no extra also ends.
- The other method: the same payments in the other order (avalanche or snowball). The difference is its interest minus this method's interest. It is shown when that plan ends too.
Assumptions
- Interest is charged monthly at APR ÷ 12 on each balance; the rates and payments do not change.
- No new charges or fees are added to the debts.
- Payments are made at the end of each month.
- Values are not rounded to the cent between months; only the display is rounded.
- The example debts are illustrations, not typical figures.
Worked examples by hand
Two interest-free debts, snowball, $100 extra. A owes $500 and B owes $1,500, each with a $50 payment, so the budget is $200. A is smaller, so it gets the extra: A pays $150 in months 1 to 3 ($50 left), and $50 in month 4, when it is paid off; the $100 left over goes to B. B pays $50 in months 1 to 3, then $150 in month 4 ($1,200 left), then $200 a month, so it is paid off in month 10: 10 months, $0 interest, $2,000 paid. With no extra, A takes 10 months at $50; B pays $50 for 10 months ($1,000 left), then $100 a month for 10 more, so the extra makes it 10 months sooner. Starting October 1, 2026, the last payment is in August 2027.
The four example debts with $200 extra (credit card $7,500 at 24.9% paying $225; medical bill $900 at 0% paying $50; car loan $11,000 at 6.9% paying $310; personal loan $3,200 at 13.5% paying $110). The budget is $895 a month. Highest APR first, the order is credit card, personal loan, car loan, medical bill. Following the steps month by month, the medical bill is paid off by its own $50 payments in month 18, the credit card in month 22, the personal loan in month 25, and the car loan in month 30: 30 months and $3,733.53 of interest. With no extra, the same order takes 42 months and $6,520.80, so the extra saves $2,787.28 and 12 months. Smallest balance first, the same debts take 31 months and $4,269.79, so the avalanche saves $536.27.
Other questions people ask
How does this debt payoff calculator work?
You pay a fixed amount every month: all your minimum payments plus any extra. Each month every debt gets its minimum, and the rest goes to one target debt. When a debt is paid off, its payment moves to the next target, so the amount you pay each month stays the same until you are debt-free.
Should I pay off the highest interest rate or the smallest balance first?
Paying the highest APR first (the avalanche method) usually costs the least interest. Paying the smallest balance first (the snowball method) clears whole debts sooner, which some people find easier to stick with. With the four example debts, the avalanche saves $536.27 over the snowball.
How much does an extra payment help?
A lot, because every extra dollar stops interest on itself. In the example, $200 a month on top of the minimums clears the debts 12 months sooner and saves $2,787.28 in interest.
What if my payments do not cover the interest?
Then the debts never get paid off, and the page says so. It also stops at 50 years. Raise the extra payment until the plan ends.
Does the calculator include new charges on my cards?
No. It assumes you stop adding to the debts and that the rates and minimum payments stay as you enter them. Card minimums usually fall as the balance falls; keeping the payment the same pays the card off faster.
What should I enter as the monthly payment of a loan?
The fixed payment on your statement, such as the monthly car loan payment. For a credit card, enter the current minimum payment, or the amount you plan to pay.