Restructuring debts for accelerated payoff

Use this calculator to determine your interest and time savings using this technique. The calculator will sort the debts for you when completing the analysis. You may also apply an extra amount to the total payment to accelerate debt payoff even further. Call OnTrack at 828.255.5166 or 1.800.737.5485 to schedule a FREE one-on-one appointment with one of our certified financial counselors for an in-depth review of your income, spending habits, expenses, debts, and assets to help you create a plan to meet your personal financial goals.
Current Debt Information
CreditorBalanceMinimum
Payment
Actual
Payment
Interest
Rate
Debt-1 ($)
Debt-2 ($)
Debt-3 ($)
Debt-4 ($)
Debt-5 ($)
Debt-6 ($)
Debt-7 ($)
Debt-8 ($)
Debt-9 ($)
Debt-10 ($)
Debt-11 ($)
Debt-12 ($)
Debt-13 ($)
Debt-14 ($)
Debt-15 ($)
Debt-16 ($)
Debt-17 ($)
Debt-18 ($)
Debt-19 ($)
Debt-20 ($)
Additional Debt Payments
Extra monthly payment ($) 
One-time payment ($) 
One-time payment 
One-time payment 
Assumptions
Debt ordering 
Interest earned on new savings (%) 

This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. The calculations do not infer that the company assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.

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