Help With Debt: Calculate How Much You Owe

How much do you owe? Debt reduction help starts with finding out how much you owe and how long it will take to pay it all off. Use this calculator as a starting point for your debt management program, whether you seek credit counseling services or attempt to get out of debt on your own. Enter information for all of your credit cards, auto loans and other outstanding installment loans. For help using this calculator, refer to the instructions below.

Certified Credit Counselors: Personal Assistance

We are pleased to offer this debt calculator at no cost to you, as part of our debt management services. Family Credit Management Service is a non-profit credit and debt counseling service with professionally trained, certified Christian credit counselors. If you need help with debt, our specialized services can save you time, money and help you regain control of your credit and life much faster and easier! Help with debt is available by calling 1-800-994-3328 to speak to one of our certified credit counselors or apply online to start using our credit counseling services.

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Definitions
Credit cards:	Enter up to 10 credit card accounts, one on each line.
Balance:	Your current balance on your credit card.
Interest rate:	The annual percentage rate you pay on this credit card. The rate you enter is used to calculate the interest on all future payments for the credit card. The length of time to payoff this credit card may be much greater than calculated if you enter a low promotional interest rate that is only good for short period of time.
Auto loans:	Click on the details button to enter any auto loans you may have. The details page is designed to let you enter your current monthly payment, the term (in months), the starting balance, the number of months you have left. It then calculates your outstanding balance and interest rate. You can enter up to three installment loans.
Other loans:	Click on the details button to enter any additional installment loans you may have. The details page is designed to let you enter your current monthly payment, the term (in months), the starting balance, and the number of months you have left. It then calculates your outstanding balance and interest rate. You can enter up to six installment loans.
Payment:	This is your initial monthly payment. If you checked the "use credit card minimum payments" box, your monthly payment is calculated as 2% of your current outstanding balance. With the "use credit card minimum payments" box checked, your monthly payment will decrease as your balance is paid down. This can greatly increase the length of time it takes to pay off your credit card debt. Uncheck this box to enter your own monthly payment that will remain the same until your balance is paid in full. (We calculate your minimum monthly payment as 2% of your current outstanding balance. While your actual minimum monthly payment may be slightly different, this is one of the most common methods used by credit card companies to calculate minimum payments.)
Financial Help and Debt Management - Services Available Once you calculate how much you owe, you need a plan to get your debt paid in full. You may be wondering if creditors would be willing to help you set up a repayment schedule. Or you may be considering other types of debt reduction help that may or may not be right for you. We encourage you to seek the help of a reputable credit counselor. At Family Credit Management Service, we offer debt management services and certified Christian credit counselors who work with you to establish a monthly budget and negotiate with your creditors to establish a payment plan that falls within this budget. If you need help with debt, call 1-800-994-3328 to start using our credit counseling services. Talk to one of our caring, expert Christian credit counselors and find out more about the many benefits that Family Credit Management Service offers.
Information and interactive calculators are made available to you as self-help tools for your independent use. We can not and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.