Family Debt Payoff

Free Family Debt Payoff calculator with clear step-by-step results.

About Family Debt Payoff

Simulates the avalanche method month by month, directing the whole available payment at the highest-rate balance first and rolling it onto the next debt as each clears. Interest is compounded before payment each month, which is how card issuers actually apply it.

Formulas

Monthly interest

Interest = balance x APR / 12, applied before the payment

Payment order

The full payment goes to the highest-rate balance until it clears, then to the next

Worked example

With the default values below, Family Debt Payoff returns Months to clear both debts of 26. Change any input above and every figure here is recalculated in your browser.

Inputs used

Credit card balanceminimum 0 $: 6,500 $
Credit card APRaccepts 0–60 %: 21.9 %
Personal loan balanceminimum 0 $: 9,000 $
Personal loan APRaccepts 0–60 %: 9.5 %
Total monthly payment availableminimum 1 $: 700 $

Results

Months to clear both debts: 26 months
Total interest paid: $2,069.57
Total repaid: $17,569.57
Blended APR across both debts: 14.70% %

Step by step

1Values used
2Monthly interest
3Payment order
4Months to clear both debts= 26 months
5Total interest paid= $2,069.57
6Total repaid= $17,569.57
7Blended APR across both debts= 14.70 %

Assumptions and limits

The result is derived only from the 5 inputs listed above. Anything not among them is not part of the calculation.
In particular, this calculator does not take inflation, tax, fees or charges or compounding frequency into account.
Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
A simplified projection. Real cards apply minimum payments, promotional rates, fees and different interest calculation methods. Confirm figures with your lender before restructuring repayments.

How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.

A simplified projection. Real cards apply minimum payments, promotional rates, fees and different interest calculation methods. Confirm figures with your lender before restructuring repayments.

Frequently Asked Questions

Is avalanche always better than snowball?

Mathematically yes - targeting the highest rate always costs less interest. Snowball clears small balances first and can be better if the psychological wins keep you going.

Why does it stop at 600 months?

If the payment is smaller than the monthly interest, the balance never falls. The cap flags that case rather than looping forever - you need a higher payment or a lower rate.