See Exactly When Each Debt Hits Zero — and How Consolidation Compresses Your Debt-Free Date
Map exactly when each debt hits zero. Compare your current minimum-payment path against an accelerated plan. A consolidation loan compresses both timelines into one lower-rate payment.
Your Debts
Your Debt Payoff Timeline
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Common Questions About Debt Payoff
How long does it realistically take to pay off debt?
It depends on your balances, APRs, and monthly payments. A $15,000 credit card balance at 20% APR with $400/month minimum payments takes roughly 53 months and costs $6,200 in interest. Adding $200/month extra cuts that to 30 months and saves $3,100. Consolidation with a 12% APR personal loan reduces it to 24 months with $1,900 in total interest.
Should I use savings to pay off debt?
Keep at least 1 month of emergency savings. After that, compare the math: paying off a 20% APR credit card is mathematically equivalent to earning a 20% guaranteed return — better than any investment. But if your savings are all you have, consolidate instead — you preserve cash while reducing your effective APR.
What's faster: extra payments or consolidation?
Consolidation is typically faster because it lowers your effective APR — the biggest driver of payoff time. A 20% APR card consolidated to 12% saves roughly 40% in payoff time even with the same monthly payment. Combining consolidation with extra payments produces the fastest timeline.