Estimate how many months your savings will last, how fast debt could grow if the gap is financed on credit, and your overall debt-to-income risk level.
| Year | Debt Balance | Debt-to-Income | Risk Level |
|---|
Enter your savings, monthly income, monthly expenses, and any existing debt. If your expenses exceed your income, the calculator first shows how many months your current savings will cover the gap. After that point, it models what happens if the remaining shortfall is financed on debt at your average interest rate, projecting your balance and debt-to-income ratio out five years.
Debt-to-income (DTI) compares your total debt to your annual income. Most nonprofit credit counselors treat a DTI under 20% as healthy, 20–36% as a caution zone worth monitoring, 36–50% as a sign of real financial strain, and above 50% as a level where many households start exploring formal debt relief, credit counseling, or bankruptcy protection.
Bankruptcy is a specific legal process filed through a court, not an automatic outcome of any formula. This tool only models cash flow and debt growth under the numbers you enter — it can't account for asset sales, family support, income changes, or legal protections available in your area.
Chapter 7 generally discharges most unsecured debt after liquidating non-exempt assets, while Chapter 13 sets up a 3–5 year repayment plan that lets filers keep more property. Eligibility depends on income, assets, and the type of debt involved — a bankruptcy attorney can advise which fits your situation.
Yes. Nonprofit credit counseling (such as agencies accredited by the National Foundation for Credit Counseling) negotiates payment plans and lower interest rates without going to court, and is usually tried before bankruptcy is considered.
Generally yes — both nonprofit credit counselors and bankruptcy attorneys typically offer free initial consultations, and acting earlier usually preserves more options than waiting until accounts are already in default.