Online Debt Repayment Calculator
Our free debt repayment calculator helps you create a clear path to become debt-free. Simply enter your debt details to see how quickly you can pay off and how much interest you'll save with different payment strategies.
True cost of debt
Years to pay off
9.5 yrs
Total debt paid
$70,000
Total interest paid
$63,339
True cost of debt mortgage
$132,339
A Guide to Debt Repayment
Our debt repayment calculator will help you in estimating the time it might take to pay off debt. To find out when you'll
pay off any debt, including credit cards, personal loans, student loans, and auto loans, use our calculator.
How to Use This Calculator
It is very easy to use our debt repayment calculator:
- Enter your debts - List each debt with its balance, interest rate, and minimum payment
- See your results - View your debt-free date and total interest savings
- Make a plan
As Ontario's cost of living continues to rise, getting out of debt can feel overwhelming. Having a clear plan makes all the difference. Our online debt repayment calculator helps you create a roadmap to become debt-free faster and save money on interest charges. By understanding how different payment strategies affect your debt, you can make smarter decisions about your finances.
With a proper debt repayment plan, you can:
- See exactly when you'll be debt-free
- Save money by reducing interest payments
- Stay motivated with a clear roadmap
- Make smarter decisions about extra payments
With a proper debt repayment plan, you can:
- Set up automatic payments/ avoid missing due dates
- Put extra money (tax refunds, bonuses) toward your debt
- Cut unnecessary expenses, increase monthly payments
- Consider consolidating high-interest debts to a lower rate
- Track your progress