Free Debt Repayment Calculator

Start by choosing your scenario:

Single Debt Mode - Use this if you have one specific debt to focus on (one credit card, one loan, etc.). Perfect for quick calculations and understanding how extra payments impact a single balance. You'll see exactly when that debt disappears and how much interest you'll pay or save.

Multiple Debts Mode - Click "Add Another Debt" to track your complete debt portfolio. This is where the magic happens: our payment rollover optimization automatically redirects payments as each debt gets eliminated, creating an accelerating cascade effect. The chart shows all your debts stacked together, so you can watch your total debt shrink month by month.

Enter your details: For each debt, input your current balance, annual interest rate (APR), and minimum monthly payment. These numbers are on your statements. Then add any extra amount you can afford to pay beyond minimums—even $25-50 makes a massive difference over time.

Watch the results update instantly: Your debt-free date, total interest paid, and interest savings from extra payments appear in real-time. Change the extra payment amount and watch your payoff timeline shift. Want to see what happens if you add $100/month instead of $50? Just type it in—the calculator recalculates everything instantly.

Experiment with scenarios: This is your financial sandbox. Try different extra payment amounts. See what happens if you throw a bonus or tax refund at your debt. The opportunity cost section even shows what would happen if you invested that money instead—helping you make the smartest choice for YOUR situation.

This isn't your typical debt calculator. We've built sophisticated algorithms that mirror the same math powering the full FinPal app. Here's what makes our calculations exceptional:

Payment Rollover Optimization - When you pay off a debt, we don't stop there. If your payment was $250 and the final balance was only $100, that extra $150 automatically rolls over to your next highest-priority debt. This payment momentum creates a cascading effect that accelerates payoff exponentially. Most calculators ignore this—we optimize for it.

Compound Interest Precision - Interest compounds monthly, not annually. We calculate: (Current Balance × Annual Rate) ÷ 12 months = Monthly Interest. Then we apply your payment, reducing principal. This month-by-month precision ensures our projections match your actual statements down to the penny.

Multi-Debt Orchestration - For multiple debts, we run parallel amortization schedules while optimizing payment allocation. We track which debt gets paid off first, then automatically redirect that payment to the next debt, creating an accelerating snowball effect. The math accounts for varying interest rates, balances, and payment schedules simultaneously.

Opportunity Cost Analysis - We calculate two parallel scenarios: (1) paying down debt with extra payments, and (2) investing that same money at market returns. This shows the real trade-off between guaranteed savings (avoided interest) versus potential investment gains. The math reveals whether your 19% credit card debt should be prioritized over investing in a 7% return portfolio—spoiler: it should.

Real-Time Recalculation - Every input change triggers instant recalculation across all debts, updating payoff timelines, interest savings, and chart visualizations in milliseconds. This lets you experiment with different scenarios and see exactly how an extra $50/month or $100/month changes your debt-free date.

Intelligent Payment Rollover - The moment one debt is eliminated, every dollar from that payment automatically shifts to your next debt. This creates exponential acceleration. Pay off a $3,000 credit card with a $250 payment? That $250 immediately attacks your next balance, not just the minimum. This is the secret sauce that cuts years off your timeline.

Interactive Scenario Modeling - Want to see what happens if you pay an extra $75 monthly? Or $200? Change the number and watch your debt-free date shift in real-time. The chart updates instantly, showing exactly how many months you shave off and how much interest you save. This makes the abstract concept of "extra payments" tangible and motivating.

Month-by-Month Visualization - Our chart doesn't just show a single final number. It plots your complete debt reduction journey month by month, letting you see the exact trajectory. You'll watch your balance curve downward, with acceleration points when debts get eliminated and payments roll over. This visualization keeps you motivated through the entire journey.

Opportunity Cost Transparency - Should you invest extra money or pay down debt? We show both paths side-by-side. See what happens if you invest your extra $300/month at 7% returns versus paying down your 18% APR credit card. The math makes the decision obvious—but now you have proof, not just gut feeling.