Debt Payoff Calculator
The accelerated debt payoff calculator will show you how much time and money you could save by paying off your debts using the "debt rollover" method. Using the rollover method, the smallest debt is paid down first and as each debt is paid off, the freed-up payment amount is then applied to the next largest debt in addition to the existing payment, thereby accelerating the payoff process.
The debt rollover process continues until all debts are paid off. As you are about to see, this method can save you a ton of money in interest charges, and get you debt free in a very short period of time.
Instructions: Ordered from smallest balance to highest balance, enter the name, current balance, interest rate and minimum payment amount for all of your debts (up to a maximum of 10 debts). Next, enter a monthly dollar amount you could add to your accelerated debt payoff plan. Then, click the "Calculate Results" button for the debt payoff calculator results.
Note: If you include your mortgage in your Accelerated Debt Payoff Plan, be sure to enter only the principal & interest portion of your monthly mortgage payment (don't include monthly tax and insurance portion).
We hope you enjoyed the debt payoff calculator and most of all found it useful for getting you started on the road to accelerating your debt repayment and bringing you closer to financial freedom!