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CalcTortoise

Debt Payoff Calculator

List your credit cards and loans, add what you can put toward debt each month, and see the fastest, cheapest route to debt-free.

Written by the CalcTortoise editorial team · How we work

Credit card A
Credit card B
Car loan

On top of all the minimum payments. When a debt is cleared, its payment goes to the next one.

Which debt to clear first

Debt-free in (avalanche)

2 years 2 months

Paying $300 extra each month, you are debt-free in 2 years 2 months and save $4,759 of interest compared with paying only the minimums. Here both methods cost the same.

Interest, avalanche
$2,635
Interest, snowball
$2,635
Interest, minimums only
$7,394
Time, minimums only
5 years 9 months

Illustration only, not investment, tax or legal advice.

  1. 1. Credit card Bcleared in 8 months
  2. 2. Credit card Acleared in 1 year 6 months
  3. 3. Car loancleared in 2 years 2 months
Total debt left over timeAvalancheMinimum payments only

Debt left over time

YearAvalancheSnowballMinimums only
Year 1$11,054$11,054$15,159
Year 2$1,127$1,127$10,321
Year 3$0$0$4,898
Year 4$0$0$2,237
Year 5$0$0$575
Month 69$0$0$0

How to use this calculator

  1. Enter each debt’s balance, APR and minimum payment.
  2. Enter the extra amount you can pay each month.
  3. Compare avalanche and snowball, and see the order your debts get paid off.

Frequently asked questions

Debt avalanche or debt snowball — which is better?

Avalanche (highest rate first) always costs the least interest. Snowball (smallest balance first) gives you quick wins that can keep you motivated. With the example debts and $300 extra a month, avalanche saves $0 over snowball and has you debt-free in 2 years 2 months.

How long does paying only the minimum take?

Far longer. On the same debts, minimum payments alone take 5 years 9 months and cost $7,394 in interest.

Should I consolidate or use a balance transfer?

A lower rate can help if the fees are small and you stop adding new debt. Enter the new loan here as a single debt to compare.

What happens when one debt is paid off?

Its minimum payment rolls over to the next debt on the list, so your payoff speeds up as you go.

Sources and method

Standard compound-interest formulas, tested against worked examples. Nothing here depends on outside data; the rates you type in are your own assumptions.

No outside data is used. The numbers you type in are the only inputs.

Page and formula last reviewed . How we calculate · Editorial policy · Corrections and change log

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Last updated 10 October 2026. For information only — not financial advice. Check the final figures with your lender or bank.