1. List every debt
Write down each debt with its balance, interest rate and minimum payment. Our debt payoff planner does this for you and saves it on your device.
2. Keep up the minimums
Missing payments usually adds fees and can hurt your credit. Pay at least the minimum on every debt, every month. Set up automatic payments or reminders if it helps.
3. Pick snowball or avalanche
Snowball: put any extra on the smallest balance first. Avalanche: put it on the highest interest rate first, which usually saves the most money. The planner shows both on your numbers.
4. Find extra money to put toward debt
Even small amounts help. Check your spending with the free budget planner, cancel unused subscriptions, and put windfalls like tax refunds toward debt. Some people add a side hustle for a while.
5. Talk to your lenders early
If you can’t keep up, contact your lenders before you fall behind and ask about hardship programs, payment plans or lower rates.
6. Get free help, and avoid debt relief traps
Nonprofit credit counselors can review your budget and may offer a debt management plan. Be careful with companies that promise to settle or erase debts for a fee. In the US, the FTC warns about debt relief scams and says companies selling debt relief by phone can’t charge fees before they settle or reduce your debt.
Free, nonprofit debt help: US: NFCC nonprofit credit counseling · UK: MoneyHelper debt advice locator · Canada: Credit Counselling Canada · Australia: National Debt Helpline
Sources: FTC: how to get out of debt
7. Protect your progress
Build a small emergency fund so a surprise bill doesn’t go back on a card, and check your credit reports for errors. See our credit score action plan.
See your debt-free date
Enter your debts and compare snowball and avalanche in under a minute.
Open the debt payoff plannerFrequently asked questions
What is the fastest way to pay off debt?
Pay the minimum on everything and put every extra dollar on one debt at a time, starting with the highest interest rate (avalanche). The planner shows your debt-free date.
How do I pay off debt with a low income?
Focus on keeping up minimums, cut costs where you can, ask lenders about hardship options, check for help with bills through official programs, and use free nonprofit credit counseling.
Is debt consolidation a good idea?
It can be if the new loan has a lower total cost and you stop adding new debt. Compare the full cost, including fees, before you switch.
Last reviewed: October 2026. General information only — check providers' official sites for current features and pricing.