Debt Calculator

It’s essential to check and pay your court and tax debts on time. Sometimes it can be challenging to find out your credit history and check unpaid penalties. See how much your different debts are costing you, and find the fastest way to get out of debt with our debt calculator.

It can happen to anyone, but it’s better not to let a negative balance on your credit card exist for too long because you will pay (relatively) high costs for it. A negative balance usually arises if you opt for staggering repayment in installments instead of paying in full monthly. For example, when you want to finance a more expensive purchase like a television, a holiday, or a smartphone in this way, you can grow deeper and deeper in debt. For more information about how to calculate credit card debt ratios.

If you have smaller, starting debts, it is sometimes possible to work out a solution for this yourself. The debt payment calculator helps you to calculate how long it will take to pay off debt and how you can relieve your debt with our online calculator. You can then quickly draw up a repayment plan stating which arrangement you can propose to which creditor. 

Priority Payments

Certain debts must be paid off with priority. This concerns debts related to vital needs, like rent and energy debts: if these are not paid, they can lead to an eviction energy cut. Some debts can even endanger your condition and that of your family, like a maintenance allowance: if it is not paid, it can lead to a complete seizure of your income and criminal prosecution. On a case-by-case basis and according to the circumstances, the debts for maintenance, tax debts, debts to the current employer, or other debts may have to be paid as a priority.

Do you want to know more about the Unites States National Debt and how this affects citizens of our country? Check out the National Debt Clock.

Debt Free Calculator

You can use the Debt Free Calculator like a credit card debt calculator and a monthly debt payment calculator. But it can also be used to quickly find out how much money and time you can save if you increase the amount of monthly payment you contribute toward a debt, such as mortgage debt, childcare expenses, car payments, etc. The convenient calculator is an easy to use online tool to reduce your debt, settle debts, and get out of debt in general. 

If the Outcome Is Positive

 An optimistic calculation means that you will have money left over every month for expenses that are not necessary. If it is a high amount, you could use this to pay off more. In that case, give priority to important creditors. Is the outcome only slightly positive, for example, $100? Then it may be useful to set this amount aside as a buffer.

If the Outcome Is Negative

A negative calculation means that the repayment amount and your expenses exceed your full income (plus benefits, etc.). You can now do three things:

• Create more income: if possible, take an extra job and ensure that you receive all the benefits you are entitled to.
• Reduce your expenses: cut as many expenses as possible that are not strictly necessary. Think of: holidays, dinners, expensive clothing, electronics, household effects, etc.
• Redeem debt in bankruptcy: you should apply this option as a last resort. Learn more about redeeming here.

Important notice: If you are sure that you cannot pay a bill, be the first to contact the relevant authority immediately and tell them that you are working on a solution. This will prevent more significant problems. If you need further assistance in reducing your debt, reach out to the experts at DebtQuest USA.