Free tool · Personal debt
Debt Payoff Planner
See which debt to pay first, when you'll be debt-free, and how much interest you'll pay. The planner compares the avalanche and snowball methods and builds a month-by-month plan.
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Are you behind on any of these?
These are priority debts. Missing them has the most serious consequences, so they come before everything else.
Your other debts
Credit cards, loans, overdrafts, car finance, buy now pay later. Use your latest statements. The figures below are examples, so replace them with your own.
What can you pay each month?
The total you can put towards these debts after essentials and priority bills. Be realistic. A plan you can keep beats an ambitious one you can't.
Your plan
Avalanche
Highest interest rate first. You tackle the most expensive debt before cheaper ones. This always costs the least interest overall, or ties.
Snowball
Smallest balance first. You clear small debts quickly, whatever their rate. It usually costs a little more, but the early wins help many people stay on track.
Both pay the minimum on every debt and put your spare money on one target. When that debt is cleared, its payment rolls onto the next.
What to do, and when
Pay the minimum on everything, then put every spare pound on the current target. When a debt clears, its payment rolls onto the next one.
Switch method to see how the order changes.
Show month-by-month schedule
Questions about paying off debt
Which debt should I pay off first?
Priority debts first: rent or mortgage, council tax, energy, court fines, child maintenance and HMRC. Missing these can lead to eviction, enforcement agents or losing your supply. After that, paying the highest interest rate first (avalanche) costs the least.
Avalanche or snowball?
Avalanche targets the highest APR and almost always saves money. Snowball targets the smallest balance, so you clear debts sooner and see progress faster. If the difference in cost is small, pick the one you'll stick with.
What if my budget doesn't cover the minimums?
Speak to a free debt adviser before you miss payments. They can talk to lenders for you and explain options such as breathing space, a debt management plan or a debt relief order. You should never need to pay for debt advice.
How accurate is this?
It assumes rates and minimum payments stay the same and that you add no new borrowing. Real minimums often fall as balances fall, and 0% deals end, so treat the dates as a guide and rerun the plan when things change.