From $52K in Debt to Debt-Free in 18 Months

A couple used the debt snowball method and NexTool's calculators to eliminate five debts and save $8,700 in interest.

$8,700 saved

1The Challenge

Jamie and Alex had accumulated $52,000 in debt across five accounts: $18,000 in credit cards (19-24% APR), a $12,000 car loan (6.9%), $15,000 in personal loans (11%), and $7,000 in medical debt (0% but collections-bound). Minimum payments of $1,340/month barely covered interest. They felt trapped and were considering bankruptcy.

2The Solution

Using NexTool's Debt Payoff Calculator, Jamie and Alex compared the debt avalanche (highest interest first) vs. snowball (smallest balance first) methods. The calculator showed the avalanche method would save $2,100 more in interest, but they chose a hybrid approach for motivation — paying off the $7,000 medical debt first, then switching to avalanche for the rest. The Loan Calculator helped them consolidate two credit cards into a single 8.9% personal loan, saving $4,300 in interest. They used the Budget Calculator to find an extra $800/month to throw at debt.

3The Results

Metric	Before	After	Improvement
Total Debt	$52,000	$0	100% eliminated
Monthly Debt Payments	$1,340	$0	$1,340/mo freed
Interest Saved	Projected $14,200	$5,500 paid	$8,700 saved
Credit Score	612	748	+136 points

“Seeing the exact payoff date for each debt on the calculator was incredibly motivating. Every extra payment moved that date closer. We went from feeling hopeless to being completely debt-free in 18 months. The interest savings alone were worth $8,700.”
— Young Couple, Denver, CO

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