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The Power of Rollover Payments

This calculator uses rollover payments to accelerate your payoff plan to get you debt free as soon as possible. The way it works is that you throw everything you have at the first debt in line to be paid off. As you pay off each debt, the freed-up amount is applied to the next debt. Repeat the process until you are completely debt free!

Which Payoff Method Should You Use?

The most effective way to pay down debt is to focus on accounts with the highest interest rate which is known as the debt avalanche method or debt stacking. However, many people like to focus on accounts with the smallest balance first, also known as the debt snowball. You can simulate both methods (along with a few others) with the form below to see which one works best for you.

What is Undebt.it?

This site was designed to help people get out of debt. Use this calculator to show you how much you'll be paying in interest and give you a detailed month-by-month payment schedule along with a timeline graph. There's no catch, try it out right now and find out what your debt free date will be. If you would like to save your information, you can create a free account so you don't have to re-enter anything. Creating an account is *not* required to use this calculator. Remeber, the best payoff plan is the one you can stick with! Here's some more info on how the site works.

How to Use This Calculator

It's really easty to get started; the first thing you need to enter is your "Total debt payoff budget". This is the total amount you can pay towards your debts each month (including the minimum payments). For example, if the total of the minimum payments on all of your accounts is $500, but you can afford and extra $400 on top of that; use $900 as the budget amount. Next, you enter in the basic info about your accounts. Add as many lines as you need. When you're done, just click the "Go!" button and your plan will be automatically generated. You can change the payoff method to see how it affects the debt free date. You can optionally choose to create an account if you like.

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# Account Name Current Balance Minimum Payment Interest Rate
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