Debt Eliminator
Enter your debts below, choose a payoff strategy, and see exactly when you'll be debt-free — and how much interest you'll save by putting extra money toward your balances each month. Reducing your debt load also strengthens your mortgage application when you're ready to buy or refinance.
Your Debts
Payoff Settings
Amount above minimums you can put toward debt each month
Payoff Strategy
Your Payoff Plan
Total Debt
$22,700
2 accounts
Monthly Payment
$655
$455 min + $200 extra
Debt-Free In
3 yr. 7 mo.
with your plan
Total Interest
$4,882
at current rates
Your extra $200/mo. saves you $8,480 in interest and gets you debt-free 3 yr. 1 mo. sooner than paying minimums only.
Payoff Order (highest rate first):
- 1Credit Card
- 2Car Loan
Avalanche vs. Snowball: Which Is Right for You?
Debt Avalanche
Saves the most moneyPay minimums on all debts, then throw every extra dollar at the debt with the highest interest rate first. Once it's gone, roll that payment into the next highest-rate debt. This method minimizes total interest paid over time — mathematically the most efficient strategy.
Best for: People motivated by numbers and long-term savings who can stay disciplined even when early wins are slow.
Debt Snowball
Best for motivationPay minimums on all debts, then attack the smallest balance first regardless of interest rate. Each time you eliminate a debt, roll its payment into the next smallest. The quick wins build momentum and keep you motivated.
Best for: People who need psychological wins to stay on track — especially those who've tried and failed with other methods.
Ready to put your home equity to work?
A cash-out refinance can consolidate high-interest debt into a single low-rate mortgage payment — potentially saving hundreds per month. Call us to run the numbers.
(262) 370-1128