A clearer path toward paying off debt
Unchained is a free finance tool that helps you create a debt payment plan. It’s easy to lose track of multiple debts when things get unorganized, and interest can quickly pile up when you don’t have a clear repayment strategy. This tool helps you plan ahead.
Snowball or avalanche
With Unchained, you can easily add your debts to the list by entering details such as the balance, interest rate, and minimum payment. The tool then creates a payment plan, and you have two methods to choose from. The Snowball method prioritizes paying off smaller balances first, while the Avalanche method focuses on debts with the highest interest rates.
You can specify any extra amount you plan to pay monthly on top of the minimum payments. The tool also lets you compare the two methods, including how long each could take before your balance hits zero and how much interest you would pay overall. However, having only two repayment strategies may feel limiting for some users.
A plan you can follow
Overall, Unchained is a handy tool for anyone managing multiple debts and looking for a clearer repayment strategy. Being able to compare different approaches and see how your payments could affect the timeline and total interest makes it easier to understand your options and work toward a zero balance.
