FREE TOOLS. A CLEARER PICTURE.
Debt repayment
calculator.
What would it take to pay back a balance? Compare three- and five-year estimates with an interest rate you choose.
Choose your assumptions
A fixed-rate payoff illustration for one balance. It does not model a bankruptcy plan.
Use one account, or a combined balance only if the same rate applies throughout.
0% assumes no interest. Enter the applicable fixed rate to include interest. Fees are not included.
TWO TERMS, SIDE BY SIDE
Your monthly payment estimate
Paying the full balance at your selected rate. No new borrowing, fees, or changes in interest.
- Total interest
- Not calculated
- Total paid
- Not calculated
- Final payment
- Not calculated
- Total interest
- Not calculated
- Total paid
- Not calculated
- Final payment
- Not calculated
Your result is free to use. The workspace is still in private beta.
Bankruptcy Buddy
Free calculator · USDYour debt repayment estimate
Based only on the numbers you entered. Calculated in your browser.
Estimate incomplete. Enter valid amounts in every field before printing a result.
THE MATH, NOT A MYSTERY
How this estimate is calculated
The same starting balance and interest rate are used for both terms. The illustration assumes monthly compounding and one payment at the end of each month.
For each term, we find the smallest payment in whole cents that pays off the balance. Interest is rounded to cents each month. The last payment is reduced to the amount still owed. This can differ from a lender’s calculation.
$12,000 to repay. No interest or fees.
Over 36 months, the estimate is $333.34 per month, with a final payment of $333.10. Over 60 months, it is $200 per month. Total repayment is $12,000 either way at 0% interest.
A few useful answers.
Is this a Chapter 13 repayment calculator?
No. It estimates full repayment of a balance at a constant rate. Chapter 13 payments depend on legal requirements and facts this calculator does not collect, including debt treatment, property, income, and applicable fees. The three- and five-year examples do not determine which term applies to you.
What happens when I set the interest rate to 0%?
The balance is divided across the term with payments rounded to cents and the final payment adjusted. No interest is added. Setting 0% does not mean interest on your actual debt will stop.
Can I combine several debts?
Only if the same interest assumption reasonably describes them. Accounts with different rates, fees, or promotional periods need separate calculations. This tool does not model minimum-payment rules, daily interest, or changing balances.
Why does the longer term cost more with interest?
The balance is repaid more slowly, so interest accrues over more months under these assumptions. A lower monthly amount does not necessarily mean a lower total cost.
Are my numbers uploaded or saved?
The calculation runs in your browser. Entering numbers does not send them to our server or save them to your workspace. Reloading clears the calculator. If you choose to continue in the local workspace, this tab temporarily stores the transfer, and you review it before adding. Ordinary page requests still go to the website host.