Debt Repayment Calculator
Use a constant balance APR and monthly payment to test repayment. Variable rates, fees and new borrowing are not included. Seek free debt help if payments are unaffordable or priority bills are at risk.
Quick answer
The calculator applies monthly interest, subtracts the selected payment and repeats until the balance reaches zero.
Calculator
How to use this calculator
- Enter the figures that match your current scenario.
- Check the effective date, assumptions and any jurisdiction or plan selection.
- Review the breakdown, test a second scenario and verify the result before acting.
Explanation
What it is
The calculator applies monthly interest, subtracts the selected payment and repeats until the balance reaches zero.
How it works
The helper repeats a monthly interest-and-payment cycle until the balance is repaid. It rejects a payment that cannot reduce the balance.
When to use it
Use this tool to explore a planning scenario before checking current official rules, product documents or professional guidance.
Limitations
- The result is an estimate based only on the inputs shown.
- Rates, thresholds and product terms can change after the effective date.
- The calculator does not replace an official assessment, provider quote or personalised advice.
Key terms
- Estimate
- A planning result produced from the stated inputs and assumptions, not a guaranteed outcome.
- Effective date
- The date or tax year for which a changing rule, threshold or rate has been checked.
- Authoritative source
- An official or regulator-backed source used to support a rule, rate or calculation method.
Formula
How we calculate this
The helper repeats a monthly interest-and-payment cycle until the balance is repaid. It rejects a payment that cannot reduce the balance.
Statutory or methodological reference:MoneyHelper guidance — Dealing With Debt.
Formula trace: APR-based repayment model with payment allocation, minimum-payment rules, fees and snowball/avalanche schedules; include harm warnings and debt-advice routes.
Worked example
Enter realistic figures into the debt repayment calculator and compare the result with the breakdown. Change one assumption at a time so you can see which factor has the greatest effect. Check the governing rule at MoneyHelper guidance — Dealing With Debt.
FAQ
What does the debt repayment calculator calculate?
The calculator applies monthly interest, subtracts the selected payment and repeats until the balance reaches zero.
Which assumptions have the biggest effect?
The most important assumptions are the amounts, time period, applicable rate or threshold, and any jurisdiction or plan choice shown in the form.
How accurate is this estimate?
It is designed for planning and testing scenarios. Accuracy depends on the inputs and whether your circumstances fit the simplified method described on the page.
Can I use the result as a final decision?
No. Verify changing rules and product terms, and seek suitable professional or official guidance when the decision is material or complex.
When should I recalculate?
Recalculate after a change in income, balance, rate, term, household circumstances, tax year or official policy.
Common mistakes
- Using a headline rate without checking whether it applies to the full amount.
- Mixing monthly and annual figures.
- Treating an educational estimate as an official assessment or guaranteed quote.
Tips
- Test a cautious scenario as well as an optimistic one.
- Keep a note of the assumptions and effective date.
- Compare the result with official guidance or provider documents before acting.
Related calculators
Related guides
Sources and editorial review
- MoneyHelper guidance — Dealing With Debt
- GOV.UK official guidance — Options For Dealing With Your Debts
- Financial Conduct Authority guidance — Dealing Financial Difficulties
- MoneyHelper guidance — Debt Advice Locator
Author and review
Author: FinanceHub UK Editorial Team — Editorial. Editorial policy.
Reviewed by role: Qualified debt adviser / welfare rights specialist. Named qualified reviewer sign-off is pending before production.
Review record date: 2026-07-10. Next review due: 2027-03-01.