LVF DEBT PAYOFF TOOL™

What would it take to be debt-free?

Add your debts. Compare payoff orders. See what extra payments could change.

Free to use
No account or bank connection
Calculates in your browser
Educational estimates

1. Add your debts

Use a nickname, not an account number. Find the balance, APR (yearly interest rate), and required minimum payment on your statement.

2. Plan your payments

Extra each month ($)Above your listed minimum payments. $0 is fine.First payment monthAll projections start with this monthly payment.

Extra Payments Schedule — optional

Expecting a bonus, tax refund, overtime, or another extra payment? Add it to your plan.

3. Choose your payoff strategy

SnowballSmallest starting balance first.Keep that order until debts are paid.AvalancheHighest current APR first.Usually saves more interest.CustomYou choose the order.Move debts up or down.

Once you have a plan, changing an input updates it automatically.

How this tool works

We estimate monthly interest, then apply your minimum payments and extra payments. Paid-off debts free up money for the next debt in your chosen order.

Methodology & assumptions

Entries are rounded to cents using decimal half-up rounding. Interest is the beginning balance × APR ÷ 12, rounded half up to cents each month. Payments are made after that interest is added.
Your entered minimums stay fixed. Your plan keeps the original combined minimum budget plus monthly extras going until all debts are paid.
The Current Minimum-Payment Baseline uses only each debt’s fixed entered minimum. It stops that payment when the debt is paid; it does not roll it into other debts.
A promotion lasts through the end of the month you select. The next month uses the post-promo APR. Deferred-interest offers and retroactive interest are not modeled.
Snowball fixes the order by positive starting balance, smallest first. Equal starting balances use the APR in effect for the first payment month, highest first, then original entry order. That sequence does not change. Avalanche targets the highest APR in effect each month; equal rates use the smaller balance after minimums, then entry order. Custom keeps your chosen order. Minimum payments may finish another debt before the priority target.
Unused minimum and extra money rolls to another debt in the same month. Scheduled extras are added to the monthly pool. Unused money after the final payoff is not counted as spent.
Same-month payoffs share a projected date. Rank reflects the model’s payment processing order, not different real-world payment dates.
No new charges, fees, missed payments, daily interest, variable rates beyond your entered promotion, or lender-specific minimum formulas are included. The projection stops after 600 months (50 years).

These results are estimates. Actual interest, minimum payments, payment timing, fees, promotional terms, and lender payoff amounts may differ. Check your account terms and request a current payoff amount from your lender before making a final payoff payment.

Privacy & your entries

No identifying information is required. Use generic debt names. Entries and results stay in this page’s memory; this calculator does not send them to LVF or save them in browser storage. Reloading clears your entries.

This standalone calculator has no analytics or storage code. The host receives normal page requests, not your debt entries. Other pages and outside resources have their own privacy practices.