The Repayment Simulator helps you explore how changes to your monthly repayments could affect how quickly you pay off your debts, and how much interest you might save along the way.
It's designed as a guide rather than financial advice. Think of it as a safe way to try out different "what if" scenarios and see how your repayment choices could shift your payoff timeline.
How the Repayment Simulator works
When you open the simulator, you'll see a list of your credit cards, loans and other accounts.
Using the balances, interest rates and minimum payments from your Equifax credit report, we estimate:
- how much you owe in total
- when you could be debt-free if you only made minimum payments
- how much interest you could save by increasing your repayments
Adjusting your repayments
Use the slider to increase your total monthly payment and see how your estimated payoff date changes in real time.
It's an easy way to see how even small increases could reduce the time it takes to clear your debts.
Things to keep in mind
- We can only show accounts that have been shared with Equifax. Some accounts may not appear if they're new or if they're reported to a different credit reference agency.
- The simulator is an estimate, not personalised advice. It won't account for every individual circumstance or future change, but it's a helpful starting point for planning.
Even small adjustments can make a real difference. Try out a few different repayment amounts to see how you could pay off your debts sooner.