More than one debt · Side-by-side plans
When will I be debt-free?
Short answer
In this example, December 2029. That's when $46,156 across a card, a personal loan and a car loan is gone at $1,500 a month, with about $9,364 in interest.
On minimum payments alone it would be September 2032, with $16,825 in interest.
Your debt-free date is the month your last debt reaches zero. To find it you need three things for each debt (balance, rate, minimum payment) and one number for all of them: how much you can pay each month in total.
| Debt | Balance | APR | Minimum |
|---|---|---|---|
| Credit card | $6,610 | 22.36% | $189 |
| Personal loan | $11,694 | 12.55% | $392 |
| Used-car loan | $27,852 | 11.19% | $542 |
| Total | $46,156 | $1,123 |
Bars drawn to scale. Minimums are held fixed, there are no new charges, and the first payment is next month.
The order each plan pays them off
Highest rate first:
- Credit card paid off in December 2027
- Personal loan paid off in August 2028
- Used-car loan paid off in December 2029
Try one of your own debts
How the date is worked out
Every debt gets its minimum each month. Whatever is left goes to the highest-rate debt. When a debt is paid off, its payment rolls onto the next one. Here the card goes first, in December 2027, then the personal loan, then the car loan.
Change any input, especially the monthly total, and the date moves. That's the useful part: you can see what an extra $100 a month buys.
Getting your own date
The calculator below works for one debt at a time. To get one date across all your debts, including a mortgage, add them to a plan. It shows the date, the order, and how much each extra dollar moves it.
Have more than one debt?
Add your cards, loans and mortgage to see one debt-free date for all of it, and which to pay first.
Common questions
What is a debt-free date?
The month your last debt is paid off if you keep to a set monthly payment. It turns "someday" into a date you can plan around.
Does my mortgage count?
You can include it or not. Many people work out a date for everything except the mortgage first, then decide whether to pay the mortgage off early.
How this payoff estimate is calculated
The strategy plans use a total monthly budget of $1,500 across the debts listed above. Minimum payments stay fixed. Extra money and payments freed by a cleared debt are applied to the remaining debts in the selected order. The minimums-only comparison does not roll freed payments forward.
Each month, interest is calculated as the opening balance × APR ÷ 100 ÷ 12, then the payment is subtracted. This repeats until the balance is paid off. Total interest is the sum of those monthly charges; displayed dollar amounts are rounded.
Dates assume the first payment is in November 2026. Dates move forward with the calendar; this does not change the number of payments for the same inputs. There are no new charges, fees or rate changes in these examples. Rates are illustrative inputs, not loan offers or a quote for your account.
Actual statements can differ because of payment timing and daily interest. The CFPB explains how credit card companies calculate interest. See our debt payoff glossary for definitions.
Written and reviewed by Todd K. Ballenger. Read our editorial policy.
Educational estimate only, not financial advice. Interest here is charged monthly at APR ÷ 12; card issuers use your average daily balance, and real fees, rate changes and new charges will change your numbers. Disclaimer.