Debt Calculator Directory

Every calculator on DebtCalculatorLab uses standard amortisation math — the same compound-interest formulas lenders use to compute your charges. You enter your balances, interest rates, and monthly payment amount; the tool runs a month-by-month loop that applies interest, subtracts your payment, and tracks how the balance changes over time. No personal data leaves your browser, and no account or credit check is required.

For multi-debt tools (snowball, avalanche, comparison), the calculators also model payment prioritisation. They distribute your total budget across all debts — covering each minimum first, then directing the remainder to whichever debt the chosen strategy targets. When one debt reaches zero, its entire payment rolls forward to the next, creating the accelerating effect that makes structured payoff plans effective.

All results are estimates. The models assume consistent monthly payments, stable interest rates, and no new borrowing. In reality, rates can change, unexpected expenses arise, and creditor policies vary. Use the output as a planning baseline — not a guarantee — and re-run the calculator whenever your situation changes. For personalised guidance, consult a qualified financial professional.

If you are not sure where to begin, the Debt Readiness Checker is the best starting point. It asks four non-numerical questions about your situation and recommends whether self-managed payoff, consolidation, or professional debt relief is likely the most appropriate path. From there, it links directly to the calculator that fits your category.

For people managing multiple debts, the Payoff Comparison Calculator shows how snowball, avalanche, and fixed-allocation methods perform with your specific balances and rates. If the cost difference between methods is small, pick whichever approach you are most likely to stick with. If the gap is significant, the comparison makes the better choice clear.

The Credit Card Payoff and Minimum Payment Trap calculators focus on individual cards. Use them when you want to understand a single account in depth — how much interest you will pay, how long payoff takes at different payment levels, and why minimums extend the timeline by years or decades.

The Consolidation Savings Calculator helps you decide whether combining debts into a single lower-rate loan actually saves money after accounting for fees and term length. And the Debt Relief Estimator models settlement scenarios for people exploring that option, including estimated fees, tax considerations, and credit impact — with optional state- or province-specific context.

There is no single "best" strategy — the right choice depends on your debt mix, your temperament, and your financial capacity. The avalanche method saves the most in total interest, but it sometimes means waiting months before the first debt is fully paid off. The snowball method costs slightly more but creates early wins that keep many people motivated. Research in behavioural finance suggests that people who experience quick progress are more likely to complete a long-term payoff plan.

For people who can qualify for a lower interest rate through consolidation, replacing several high-rate accounts with one manageable payment can simplify budgeting and reduce total cost. However, consolidation only works if you avoid accumulating new debt on the cleared accounts — otherwise you end up with the consolidation loan plus new balances, which is worse than the starting point.

Debt settlement and bankruptcy are options for severe situations where full repayment is not realistic. Both carry significant credit consequences and should be explored only after consulting a nonprofit credit counselor or licensed professional. The calculators on this site model settlement scenarios for educational comparison, but they are not a substitute for professional guidance tailored to your circumstances.

All calculators are educational tools — not financial, legal, or tax advice. Results are estimates based on the inputs you provide. Consult a qualified professional for guidance specific to your situation.