How DebtBuster® Works
By eliminating one debt at a time, you focus your efforts and create debt-reduction momentum. You can start where you are right now, today. Here's how:
Stop using your credit cards to spend money you don't have on things you don't need.
Target one credit card at a time by applying as much money as you can toward the credit card you can pay off fastest, paying only the minimum monthly payments on the rest. This allows you to focus your debt reduction efforts on an attainable goal.
Repeat with the next card. With each credit card debt you eliminate, the amount of money you have available (momentum money) to take aim at your debt increases. This is how you accelerate your debt reduction process.
The Truth About Credit Cards
Credit card companies lend people money in exchange for paying it back at a premium interest rate. These interest rates, accumulated on minimal monthly payments, keep millions of Americans mired in debt for decades. Here's an example:
The above credit card would take
9 years and 7 months
to pay in full using only minimum payments.
How long will it take to pay off your credit cards using only minimum payments?
Get your most recent credit card statements and fill out the fields below:
*Minimum payment entered into calculator must equal or exceed 3-4% of unpaid debt.
Payment must be equal to or exceed monthly interest on your credit card or your balance will continue growing.
Do not use this calculator for mortgages and bank loans.
AdvoCare ensures that none of the information entered here is viewable by anyone other than you and in no way is or can be used for anything other than DebtBuster. We do not store any of the information entered below. This is for your viewing purposes only.
Let's look at a typical mortgage. A typical $100,000 mortgage, paid back over 30 years, will actually cost you $239,508.90 to pay off. Adding "momentum money" each month IN ADDITION TO your regular payment can significantly reduce your term, total pay-off and total interest paid.
Term in years
Enter your mortgage*
*AdvoCare ensures that none of the information entered here is viewable by anyone other than you and in no way is or can be used for anything other than DebtBuster. We do not store any of the information entered below. This is for your viewing purposes only. Do not use this calculator for credit card debts.
Replace these figures with your own mortgage numbers to calculate your payment plan and "what-if" scenarios.