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Outstanding
debt
Find out how much you owe and how long it will take to pay it
off.
Debt
payoff
How long will it take to pay off your debt if you accelerate
your payments?
Fixed
mortgage
See how much interest you will pay, and your principal balances.
Mortgage
qualifier
Can you buy your dream home? Find out just how much you can
afford!
Auto
loans
How much can you spend on that new car? Find out your monthly
payments based on your purchase price.
Auto
lease vs. buy
Should you lease your next automobile or finance it? Find out
with this calculator!
Back
to Credit Resources |
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Outstanding
debt calculator
How much do you owe? Use this calculator as a starting point for your debt
management plan. Enter all of your credit cards and outstanding installment
loans. Find out how much you owe and how long it will take to pay it all off.
Definitions
| Credit cards: |
Enter up to 10 credit card accounts,
one on each line. |
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| Balance: |
Your current balance on your credit
card. |
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| Interest rate: |
The annual percentage rate you pay
on this credit card. The rate you enter is used to calculate the interest on
all future payments for the credit card. The length of time to pay off this
credit card may be much greater than calculated if you enter a low promotional
interest rate that is only good for short period of time. |
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| Auto loans: |
Click on the details button to enter
any auto loans you may have. The details page is designed to let you enter your
current monthly payment, the term (in months), the starting balance, the number
of months you have left. It then calculates your outstanding balance and
interest rate. You can enter up to three installment loans. |
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| Other loans: |
Click on the details button to enter
any additional installment loans you may have. The details page is designed to
let you enter your current monthly payment, the term (in months), the starting
balance, and the number of months you have left. It then calculates your
outstanding balance and interest rate. You can enter up to six installment
loans. |
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| Payment: |
This is your initial monthly
payment. If you checked the "use credit card minimum payments" box, your
monthly payment is calculated as 2% of your current outstanding balance. With
the "use credit card minimum payments" box checked, your monthly payment will
decrease as your balance is paid down. This can greatly increase the length of
time it takes to pay off your credit cards. Uncheck this box to enter your own
monthly payment that will remain the same until your balance is paid in full.
(We calculate your minimum monthly payment as 2% of your current outstanding
balance. While your actual minimum monthly payment may be slightly different,
this is one of the most common methods used by credit card companies to
calculate minimum payments.) |
Information and interactive calculators are made
available to you as self-help tools for your independent use. We can not and do
not guarantee their accuracy or their applicability to your circumstances. We
encourage you to seek personalized advice from qualified professionals
regarding all personal finance issues.
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