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Debt Calculator

Do you know how long it will take to pay off your credit card debts? We’re here to help! This handy debt calculator lets you determine exactly how long it will take to pay off your debts in-full on your own, assuming you are no longer making purchases on that credit card. It compares making minimum payments only, versus paying more than minimum or making fixed payments. If you need help paying off your credit card debt, give us a call at 1-800-320-9929 to speak with a certified credit counselor or get started online with a Free Debt Analysis.

Enter the information below from your most recent credit card statement. Once you complete all fields click CALCULATE. You may use decimal points, but do not enter special characters, such as commas, $, %, etc.

Credit Card Information

Please enter the following from your most recent credit card statement:

Credit card balanceThis is the total amount currently owed on your credit card. This can be found on your most current credit card statement. Current balance: $   APR (annual percentage rate)This is the annual interest rate you pay on your credit card. This can be found on your credit card statement. APR (annual percentage rate): %


Payment Option #1: Minimum Payment Only

This option estimates how long it will take to pay off your credit card balance if you plan to make the minimum monthly payments only:

Minimum Monthly Payment CalculationThe Minimum Monthly Payment Calculation is the percentage or formula used to determine the minimum payment requested on your credit card bill each month. This calculation should be specified in your Credit Card Agreement Disclosure and/or on your credit card statement. Minimum Monthly Payment Calculation:   

Based on the information provided, your first minimum monthly payment is $0.00. Note your minimum payment decreases as you pay down your credit card balance.


Payment Option #2: Minimum Payment Plus

This option estimates how long it takes to pay off your credit card if you commit to paying a set amount in addition to the minimum payment. With this option you commit to paying the minimum monthly payment
due plus a set amount extra each month.

For example: minimum payment + twenty dollars

Additional monthly paymentThis is the extra money you are willing to spend to pay off your credit card in addition to the minimum monthly payment—i.e. if you can commit to paying $20 extra in addition to your minimum monthly payment, enter “20” in the box. Additional monthly payment:    $
First minimum monthly paymentThis is your calculated first minimum monthly payment. This is calculated automatically using the information you provided above. First minimum monthly payment: + $
 First total monthly payment: = $


Payment Option #3: Fixed Payment

This option estimates how long it takes to pay off the credit card balance if you commit to paying a fixed amount each month. This means you set the amount you pay and do not change the amount as you pay
your bill down.

For example: pay $300 each month

*Your fixed payment must be greater than or equal to your first minimum monthly payment.*

Fixed monthly paymentThis is a set amount of money you are willing to spend each month to pay off your credit card, regardless of the amount owed. It must be greater than or equal to your first minimum monthly payment. Fixed monthly payment: $


Note: Federal regulations require credit card issuers to disclose on your credit card statement how long it will take to pay off your estimated balance if you make minimum monthly payments. Estimates may be rounded up to the next $100. This debt calculator uses your actual credit card balance, so the results may vary from the estimate shown in your credit card statement.


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Self-Help Booklets
Protect Yourself from Debt Collectors

The debt collecting industry is a thriving one, and it can be a very intimidating one, too. Please read the following booklet carefully. You will discover how to protect yourself from aggressive debt collectors who are out to wreak havoc on your everyday life. Be prepared.

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