If you are curious how long it will take you to pay off debts, use this debt payoff calculator to get an accurate idea of the total interest charges, number of monthly payments, and total number of years your debt payoff period will consist of. Have your annual interest rates, minimum payment amounts, and percent ready to factor into the equation.
If after calculating your debt payoff time, you feel overwhelmed and feel like you will be drowning in debt forever, don’t panic. Call ACCC at 800-769-3571 to speak with a certified credit advisor who will help you analyze your current financial situation and provide you with a detailed review of your income, assets, and expenses.
Your credit advisor will offer a debt management program if it seems like a realistic debt solution for you and your personal financial situation. ACCC’s debt management program is designed to help you get out of debt within five years (in most cases) by reducing interest rates, stopping late and over-the-limit fees, and consolidating debts into one monthly payment. For more information on how a debt management program works, watch this quick and informative video.