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Debt Calculators

1. Calculate How Long It Will Take to Pay Off Your Credit Cards Based on Your Current Monthly Payments

Use this calculator to see how long it will take to pay off your total credit card debt, based on the monthly amounts you are currently sending to your creditors. Just fill in your total debt, your estimate of the interest rate (22-25% is average), and the amount you currently pay monthly. The calculator will show you the number of months needed to pay off the loan and what your total interest charges will be.
Total Debt:
(Dollar Amount Owed)
Annual Interest Rate:
Current Monthly Payment:
   
Interest Charges:
Number of Payments

2. Calculate How Much You Would Have to Pay as a Monthly Payment to Pay Off Your Total Credit Card Debt Within a Target Date

Use this calculator to determine how much your monthly payments would be to pay off your total credit card debt by a target date. For example, if you want to pay off your debt in 5 years, then fill in your total owed, your estimate of your average interest rate (usually 22-25%), and put 60 as the desired number of payments. The calculator will compute the average monthly payment you will need to make in order to pay off your debt in 60 months (5 years).

Total Debt:
(Dollar Amount Owed)
Annual Interest Rate:
Estimated Number of Payments:
   
Estimated Monthly Payment*
*NOTE: The estimated Monthly Payment is a rounded average and will give a slightly different answer than seen in Debt Calculator 1.