Want to see how close you are to resolving your financial debt?
By entering the required fields below, we can quickly determine your current debt to income ratio and generate comprehensive payment solutions to fit your budget.
Try our FREE DEBT CALCULATOR today!
First, enter the total of all Unsecured Debts- this includes credit cards, personal loans, medical bills, or that may reflect negatively on your credit if left unpaid
Then, enter your Average Interest Rate – the combined total of your APRs divided by the number of accounts (Example) I have 2 lines of credit, one with an APR of 6%, the other 10%. My average interest rate is 8%.
Next, enter your Desired Program Length- the number of MONTHS you plan to take eliminating your debt. Remember to be reasonable; the less time you allow, the larger the payments must be
Press CALCULATE and see how soon you can become debt-free!
TRY IT NOW
Loan Calculator Help...
Using the calculator is straight forward. User enters a "loan amount", "number of months", "annual interest rate". The calculator calculates the number of monthly payments.
The "Payment Method" determines when the first payment is due. With the default selection, "End-of-Period", the first payment will be due one month after the loan is made. If "Start-of-Period" is selected, then the first payment will be due on the loan date.
The term (duration) of the loan is expressed as a number of months.
60 months = 5 years
120 months = 10 years
180 months = 15 years
240 months = 20 years
360 months = 30 years
Need more options including the ability to solve for other unknowns, change payment / compounding frequency and the ability to print an amortization schedule? Please visit, https://financial-calculators.com/loan-calculator
Currency and Date Conventions
All calculators will remember your choice. You may also
change it at any
"Save changes" will cause the calculator to reload. Your
edits will be