Debt Payoff Calculator
Months and calendar time to clear a debt with a fixed monthly payment, optionally with payments that grow each month, plus the month-by-month walk.
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About Debt Payoff Calculator
The debt only shrinks by payments: nothing accrues on the balance, so the whole question is how many payments it takes. With flat payments the answer is a division; with growing payments each month pays the last payment times (1 + growth), a geometric series that clears the debt sooner.
The month-by-month walk runs the exact repayment and the final payment is capped at whatever is still owed, so the debt is never overpaid.
Questions about Debt Payoff Calculator
Does the last payment cost less?
Yes. The final payment is only as large as the balance still owed, and the debt never goes negative.
What does payment growth model?
Plans where you can pay a little more each month, like income rising: payments compound and the debt clears sooner than with a flat payment.
Is there interest on the debt?
No. This model charges nothing on what is outstanding; pair it with an amortizing loan tool if interest accrues.
Bookmark and homescreen
- Press Ctrl+B now (or Cmd+B on macOS) to bookmark this page in your browser.
- Drag this link to your bookmarks bar and it will always open this tool: Debt Payoff Calculator.
- On a phone: open in Chrome/Safari and use "Add to Home Screen" — the site ships a homescreen icon and manifest, so it installs like an app.
- Two addresses work:
https://useful-utilities.com/debt-payoff-calculator/anddebt-payoff-calculator.useful-utilities.com. Copy whichever you prefer.