Moniti FAQ: Debt Plans, Estimates & Comparisons

What is Moniti?: Moniti is being built to help people understand debt payoff options and the steps behind a plan.
Read about the planning approach
Is a projected debt-free date a guarantee?: No. It depends on the starting balances, rates, payments, and assumptions.
See how a payment count becomes a date
What information do I need for a payoff estimate?: Collect the balance, APR, and minimum payment for each debt, then identify your total monthly debt budget. Any included promotional rates, fees, or ongoing purchases also need to be specified.
Does the monthly budget include minimum payments?: Yes, in these examples. The extra amount is what remains after the stated minimums.
See a multiple-debt example
What is the difference between avalanche and snowball?: One prioritizes the highest rate; the other prioritizes the smallest balance.
Compare the methods and first-payment example
Why does a higher payment change interest?: In a fixed-rate model, reducing the balance faster leaves less balance on which later interest is calculated.
See the $200 and $250 payment scenarios
Can a balance transfer have a fee at 0%?: Yes. The fee and interest rate are separate terms.
Read the balance transfer example
Does a lower refinancing payment mean I save money?: Not by itself. A longer term or fees can outweigh the lower payment.
Compare total outflows
What if I keep using cards after consolidation?: Include the new balances alongside the consolidation loan when reviewing your total debt.
See the combined-balance example
Are the examples real offers or customer results?: No. They are educational scenarios with stated assumptions. They do not establish eligibility, pricing, or results for an individual.
Can I download Moniti or join a waitlist here?: This content does not announce a download or waitlist opening. It explains the planning approach and examples.
What should I do if my payment budget does not cover minimums?: Reordering payments cannot make up the missing funds. Ask your creditors about available payment arrangements.
CFPB describes options to explore

What is Moniti?

Is a projected debt-free date a guarantee?

What information do I need for a payoff estimate?

Does the monthly budget include minimum payments?

What is the difference between avalanche and snowball?

Why does a higher payment change interest?

Can a balance transfer have a fee at 0%?

Does a lower refinancing payment mean I save money?

What if I keep using cards after consolidation?

Are the examples real offers or customer results?

Can I download Moniti or join a waitlist here?

What should I do if my payment budget does not cover minimums?