Pay Off a Defined Debt Balance to Zero
26 weeks · 0 milestones
Select a specific debt, create a payoff plan, and reduce the balance to zero — documented with statements as proof.
Milestone map
Milestone map
3 milestones
Choose one specific debt balance to eliminate: credit card, personal loan, car loan, or student loan — name the lender and the exact balance. Calculate the minimum monthly payment, the interest cost of continuing minimum payments, and the monthly payment needed to reach zero within your target timeframe. Choose avalanche (highest interest rate first) or snowball (smallest balance first) and document why that method fits your situation.
Proof required
Written payoff plan document showing: lender name, current balance, interest rate, current minimum payment, target monthly payment, projected payoff date, and total interest saved versus minimum-payment scenario.
What gets checked
- Specific lender, balance, and interest rate documented (not an aggregate across multiple debts)
- Payoff calculation shows monthly payment required to hit the target date — not just the minimum
- Method choice (avalanche or snowball) documented with reasoning