Debt
How to build a debt payoff plan in Reign
Add your debts, compare repayment orders, and estimate how extra payments could change your payoff date.
By Reign ·
Reign brings your debts and repayment plan into one view. Add the balances and payment details, then compare a projected payoff date with different repayment choices.
The date is an estimate based on the details you record and the plan you choose. It changes when those inputs change.
Add the debts you want to track
Liabilities — personal loans and debts you owe. For each one, add the current balance, currency, interest rate, and payment details where applicable.
Use your latest statement to check those figures. Free tracks 3 debts; Plus raises that to 50.
Choose a repayment order
Open the payoff plan to choose the order for the debts included in it:
- Snowball puts the smallest balances first.
- Avalanche puts the highest interest rates first.
- Custom uses the order you set.
The plan includes eligible active debts in one currency, with a balance and a payment to project. Paused debts, debts in another currency, and debts without payment details are listed outside the plan. It uses the included debts’ payment details and any extra monthly amount you add. Compare the projected date and interest before saving your choice.
Try extra payments in the simulator
Open the simulator to try a different extra monthly payment. It compares that scenario with your saved plan and shows the estimated change in payoff date and interest.
You can also test a one-time payment. Exploring a scenario does not send money or make a payment for you.
Record the payments you make
Log payments as they happen so Reign can update the balances and projections. Check those balances against your lender’s records when a rate, fee, or payment changes.
A projection may be unavailable if the payment details do not produce a payoff date. Review the balance, rate, and payment amount rather than treating a missing date as a finished plan.
Start with one debt
Create a free account, add a debt, and check its details against your statement. You can add the rest before comparing repayment plans.
Related reading: tracking your spending and the Free and Plus comparison.
