If you are serious about paying off debt take a little time to see how much you are actually paying your creditors?
If you only pay the minimum, you can easily wind up paying more in interest than you ever paid for your original purchase.
Although the minimum payment drops as your balance is paid, due to compounded interest, you are going to end up paying the debt for a very long time.
Take a look at how much interest you will be paying for the life of the debt by using our debt calculator.
By entering the required information, you will see the difference your payment can make on the lifetime of your debt.
Just by increasing your monthly payment by a few dollars can dramatically cut down the time it takes to pay off your debt, along with the total interest paid.
If you want to aim for a specific date by which to be debt free enter a Start and End date. This will calculate how much you need to pay on a weekly/fortnightly/monthly basis to achieve your goal.
If you are already aware of your disposable income to repay your debt our second calculator will work out how long it will take to pay off the debt.
All forms are in pdf format. Acrobat Reader can be downloaded free of charge from www.adobe.com
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