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    Debt Payoff Planner

    Get out. Stay out.

    List all debts (5 min)

    For each: balance, interest rate, minimum payment.

    • Credit cards.
    • Personal loans.
    • Medical bills.
    • Car loan.
    • HELOC.
    • Student loans (yes, even at 65 — many parents have them).
    • Mortgage.

    Snowball vs Avalanche

    • Snowball — pay smallest first. Quick wins motivate. Best for emotional motivation.
    • Avalanche — pay highest-rate first. Saves more money. Best for math.
    • Pick whichever you'll stick with — winning habit beats optimal math.

    Free tools

    • Undebt.it — free. Builds payoff timeline.
    • Debt Free Charts (printable) — color in as you pay off. Visual motivation.
    • Empower Debt Tracker — free.
    • Bankrate calculators — payoff timeline, balance transfer, debt consolidation.
    • NerdWallet free debt manager.

    Senior debt tips

    • Don't cash out 401k early — taxes + lost retirement. Last resort.
    • 0% balance transfer cards — pay off before promo ends.
    • Personal loans (5-10% APR) often beat credit card rates (18-29%).
    • Negotiate medical debt — hospitals settle 30-60% off if you ask.
    • NEVER pay debt collectors before verifying debt — many scams.
    • Bankruptcy — last resort. Free legal aid for seniors.

    AVOID debt-relief scams

    • "Debt forgiveness" + government loans = often lies.
    • Stop-paying-creditors schemes hurt credit + may not work.
    • Door-to-door = always scam.
    • For-profit debt-settlement charges 15-25%, sometimes makes worse.
    • USE: Free NFCC.org non-profit credit counseling.
    • USE: Free legal aid for seniors.

    Free non-profit help

    NFCC.org — National Foundation for Credit Counseling. Real non-profit. Free counseling. Can negotiate debt management plans with creditors. Money Management International — same thing. Avoid for-profit "debt relief" companies.