If you have multiple debts to repay, it's better to formulate a repayment plan based on your budget constraints. A Debt Repayment Calculator can show how long it will take to pay off all of your debt and how to accelerate the payoff process. The system is easy to use, and all you need to do is to fill in the balance you owed, the interest rate, the amount of monthly payment you can afford or the time frame when you would prefer to be debt free.
By watching the changing debt repayment chart, you can weigh the advantages and disadvantages and choose the cheapest and fastest way to pay down your debts. The calculator may save you hundreds, even thousands of dollars in interest and shave years off of the loan.