How To Use Debt Calculator
Are you making minimum payments on you unsecured debts and credit cards?
In the following example the person will pay $6871 in interest on an original debt of $4566. It will take over 13 years to resolve the debt, March 2027.
Simple Free Debt Calculator Instructions
#1: Go to Webpage
Go to the Simple Free Debt Calculator webpage.
#2: Enter Debt Name, Amount and Interest
Enter the name of a debt, the outstanding balance amount owed, and the interest rate you are currently paying. In this example we see a MasterCard, the amount owed is $4566, and the interest rate is 17.56%.
- Name of Debt (ex: MasterCard)
- Amount Owed (ex: $4566)
- Interest Rate (ex: 17.56%)
#3 Monthly Payment
Enter the amount you are paying- or considering paying monthly. The calculate button will engage and turn color.
- Monthly Payment (ex: $75)
Press the Calculate Button.
In this example the person will pay $6871 in interest on an original debt of $4566. It will take over 13 years to resolve the debt, March 2027.
- $6871 Paid in Interest
- Will NOT be Debt Free until March 2027