Compare snowball, avalanche, and your own payoff order
The calculator first applies minimum payments to every open debt. The remaining monthly budget then targets the smallest balance, the highest rate, or your custom order. When a debt is cleared, its former payment stays in the shared budget and accelerates the next debt.
How to read the result
The recommendation follows the lowest estimated interest and fee cost. Snowball may still suit you when early completed debts make the plan easier to maintain. A refinancing offer is shown as a separate comparison and does not change the original payoff strategies.
Planning limits
The projection assumes constant rates, fees, and payments. It does not include new charges, variable rates, missed payments, early-repayment costs, or legal consequences. If payments are already unmanageable, a reputable debt adviser can help assess your options.
Frequently Asked Questions
How do snowball and avalanche differ?
Snowball prioritizes the smallest balance. Avalanche prioritizes the highest interest rate and normally produces the lowest interest cost when payments are otherwise identical.
What happens to freed minimum payments?
The total monthly budget stays constant. When a debt is cleared, its former minimum payment joins the extra budget targeting the next debt.
Which debts belong in the plan?
You can include credit cards, installment loans, and other balances with an entered rate and minimum payment. Mortgages or contracts with substantially different rules may be better modeled separately.
Can the calculator model variable rates?
No. Each projection holds the entered rate constant for the full payoff period. Recalculate the plan whenever a rate changes.
How is refinancing compared?
The calculator combines the entered balances into one new loan and uses the new rate, term, and upfront fees. It does not assess eligibility or approval likelihood.
When should I seek debt advice?
Consider a reputable debt adviser if minimum payments are no longer manageable, collections or legal action are approaching, or new borrowing is funding old payments.
