The article Reducing Debt discusses the importance of debt reduction and its benefits. The simple calculator on this page provides a way to estimate how long and how much it takes to reduce or eliminate debts.

Use this to see:

• How long it takes to eliminate one or more debts.
• How much to pay each month towards closing the debt.
• How varying the monthly payments affects how long it takes to close a debt.

Disclaimer

The calculations are approximate and are meant to get a general idea of the debts and a quick way to try out what-if scenarios. The calculator does not support advanced debt reduction options such as debt consolidation or tax-related issues. Please consult your financial advisor or planner to tailor this for your individual cases.

Estimate how long and how much it takes to reduce or eliminate debts: