Restructuring debts for accelerated payoff

The quickest way to retire your debt is to 1) determine what your total debt payment is now, then 2) sort your debts from highest interest rate to lowest, then 3) continue to make the same total payment amount except pay Minimum Payments on all debts except the highest rate debt, then 4) once the highest rate debt is paid off apply those new savings to the next highest rate debt and so on. Use this calculator to determine the interest and time saved using this 'Roll-Over' technique along with the potential increase in savings once all the debts have been paid off. 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.
Current Debt Information
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 
Debt ordering 
Interest earned on new savings (%) 
The information provided here is to assist you in planning for your future. Any analysis is a result of the information you have provided. Material discussed is meant for general illustration and/or informational purposes only and it is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary therefore, the information should be relied upon when coordinated with individual professional advice.

Any rate of return entered into the interactive calculator to project future values should be a reasonable average return for the period. Rates of return will vary over time, and generally the higher the rate of return the higher the degree of risk.

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