Unbury me is an innovative loan calculator website, launched in 2011, that helps consumers pay off their debts more quickly and easily. This applies to student loan debt, mortgage and auto loan debt, and more. If you’re struggling to pay off your debt, this online tool may be able to help you better understand your debt and create a strategy to pay it off faster.
Unbury Me Debt Calculator
After entering their loan information for one or more loans on Unbury Me, users can compare two different methods of repaying their debt: the snowball method and the avalanche method.
The calculated results include how long it will take the user to pay off their debt using each method of repayment and how much total interest the user will pay over that time.
Benefits of Unbury Me
Visualize Debt Repayment
Unbury.me allows users to quickly and easily view all of their debt information and create a strategy for paying off their debts.
If you want to better visualize how a repayment plan will play out in the long term, the Unbury Me calculator can help.
Find the Best Options
Unbury Me’s simple tools make it easy to compare different repayment strategies to find the one that will most benefit you.
Unbury Me allows you to enter and save information for multiple loans, which means you can easily keep track of your progress on all of your debts at the same time.
No Cost to Use
Unbury Me is free, unlike many financial planning tools. At this time, there’s no indication that Unbury.me will cost money in the future.
How Does Unbury Me Work?
Unbury has an intuitive interface that’s fairly easy to use. To take advantage of its features, simply go to the homepage and enter your loans. You have the option of signing up so that your information can be saved for next time you log in.
To add a loan to your personal database, you’ll enter the following information:
- Loan Name
- Principal Remaining ($)
- Interest (%)
- Monthly Minimum Payment ($)
Unbury Me Results
Once you enter in your loan information, you’ll see an interactive dashboard that shows the following information:
– Principal Paid
This represents how much principal you’ve paid and how much you have to go.
– Pay-Off Date
This represents the date by which you’ll be debt-free if you continue your current repayment schedule
– Interest Paid
This represents the interest you’ll have paid over that time.
– Average Interest Rate
Your average interest rate across all loans.
After entering all of your loan information, you will also see an interactive graph that lets you look at the principal, interest, and monthly payments over the coming years.
The graph is a great way to further visualize how long it will take you to pay off your loans with your current payment plan, and how much interest you’ll pay over that time.
If you click the “View Loan Payments” button under “My Loan” on your Dashboard, you’ll be able to see every projected payment for that particular loan until it is fully paid off.
This list of payments includes the percentage towards the principal, as well as the total principal remaining and the total amount of interest paid.
Opening up this list of payments—and even printing it if you’d like—can help you hone in on your debt repayment strategy.
Payment Plan Types: Avalanche vs. Snowball Repayment
Once you’ve entered your loan or loans into the database, you can select one of two payment plan types: avalanche or snowball.
These payment plan types are the two most popular methods of streamlining and focusing the debt-repayment process. To get the most out of Unbury Me and other debt management calculators and sites, it’s important to understand the two types of debt repayment plan.
The “Avalanche” type of payment plan is where you, as the debtor, focus on paying off the debt with the highest interest rate first.
You do this by first allotting enough money each month to make the minimum payments towards each of your debts. Then, you put any remaining funds you may have available toward paying off the debt with the highest interest rate as fast as possible.
Your other option, the “Snowball” type of payment plan, is where you, as the debtor, focus on paying off the smallest of your debt accounts first.
Like with the avalanche method, you do this by allotting enough money each month to make the minimum payments toward each of your debts, then dedicating any remaining funds to paying off the smallest of your debt accounts.
Example of Avalanche vs. Snowball Repayment:
In this example, you have the following debts:
Loan A – Principal Remaining: $1,000 – Interest Rate: 9%
Loan B – Principal Remaining: $2,200 – Interest Rate: 12%
Loan C – Principal Remaining: $6,000 – Interest Rate: 7%
Avalanche: Using the avalanche method of debt repayment, you focus on repaying the debt with the highest interest rate first: in this case, Loan B. Each month, you make the minimum payment on all three loans, and then put any additional funds you have available towards Loan B.
Snowball: Using the snowball method of debt repayment, you focus on repaying the debt with the lowest principal remaining first: in this case, Loan A. Each month, you make the minimum payment on all three loans, and then put any additional funds you have available towards Loan A.
More Sites Like Unbury Me
Unbury Me may be one of the most simple debt calculators available, but it isn’t the only option if you want a tool for visualizing and strategizing debt repayment.
Bankrate is a well-established personal financing website with many different debt calculators available, including a debt payoff calculator.
Bankrate’s Debt Payoff Calculator will give you much of the same information as Unbury Me provides, albeit in a less simplified format. You’ll also be able to compare your current payoff schedule with that of a consolidated debt plan using the Bankrate interface.
Credit Karma has earned a reputation as the easiest way to monitor your credit, and its debt calculators fairly easy to use, too.
Credit Karma offers a Debt Repayment Calculator, which shows users how long it will take to pay of their debt based on balance owed, interest rate, expected monthly payment, and desired payoff timeframe.
CNN Money is another trusted site that offers a simple-to-use and free debt calculator. Just enter the amount you owe, the interest rate, and the monthly payment on one or more debts, and click “Calculate”.
The results you receive on CNN Money’s calculator are fairly limited compared to Unbury Me and other options, and only include your debt-free-by date, and the amount of interest you’ll pay.
If your only or primary debts are federal student loan debts, you can rely on the federal government’s dedicated site, studentloans.gov.
The calculator function available on studentloans.gov often goes unnoticed, but it’s highly useful if you want to better understand and visualize your federal student loan repayment progress.
As with Unbury Me, you’ll be given a chart detailing how much time you’ll be in repayment with your current repayment strategy and how much you’ll pay in total. And unlike Unbury Me, you’ll also see options for forgiveness and income-driven repayment plans if you qualify.
More Ways to Get Out of Debt Fast
Using a debt calculator like Unbury Me is a great start on the path to zero debt, but there are other things you can do to speed up the process, too. If you’re serious about paying down your debts faster, the following options may help:
If you have more than one debt balance, consolidating your debt might be a good way to speed up the process of paying off your debt. By consolidating, you turn multiple debt accounts into one larger debt account, either with one of your current lenders or with an entirely new lender.
Note that if you have student loans that you want to consolidate, you can use the federal government’s dedicated student loan programs to consolidate your federal loans. You cannot, however, consolidate your private loans together with your federal ones.
Consolidation, for whatever type of debt you might have, can help you focus your debt repayment efforts and streamline the entire process. Consolidation also often involves refinancing, which can result in a new payment plan (higher monthly payments, less time in debt). Our refinance calculator can help you assess whether a refinance makes sense for you. This calculator works for any type of loan.
Learn more about debt consolidation here.
Create a Budget and Stick to It
We’ve all heard it a thousand times: “Make a budget.” But there really is something to that advice. Even creating a simple budget by listing what you spend each month on groceries, coffee, clothes, etc. can go a long way towards refocusing your debt repayment efforts.
Creating a budget—and sticking to it—is easier now than ever before, with the advent of simple budgeting apps. If you’re not sure where to begin, try one of these:
Mint by Intuit has quickly become one of the most popular apps for easily managing your money with it’s simple interface and helpful reminders.
You Need A Budget (YNAB)
Investopedia labeled You Need a Budget the “best app for getting out of debt” because of its built in “accountability partner”.
Much like the micro-investment app Acorns, Digit helps you make progress toward debt payoff by putting money back into your savings. The app analyzes your spending habits and transfers a tiny amount (one you won’t notice) from your checking account to an in-app savings account. It also lets you set a savings goal amount to pay off a certain debt.
Wally is a bit more complicated compared to Mint or the other apps on this list, but it can work wonders if you’re truly dedicated to budgeting.
PocketGuard goes one step further than the other apps in that it links to your financial accounts and lets you track and evaluate certain bills to find opportunities to save.
Pay More Than the Minimum
One of the most important things you can do to get out of debt faster is put more money toward your payments each and every month, or at least whenever you can.
Both the avalanche and the snowball methods of repayment utilize this strategy in different ways, so it’s important to understand that getting out of debt faster means paying more money now.
If you’re struggling to get out of debt, it’s a good idea to avoid taking on any new debt, including credit card debt.
If you tend to use your credit card on a regular basis, it’s a good idea to put your credit spending on hold until you’ve decreased or eliminated other debts.
Not only will this let you focus on paying down your debt, but it will also help to minimize your debt-to-income ratio and improve your credit score in the process.
Unbury Me: The Final Word
The Unbury Me Debt Calculator is a great tool if you’re getting serious about getting out of debt. It can help you to visualize your debt now and into the future and determine the best strategy to pay down your balances. And if you’ve never used a debt calculator before, Unbury.me is a good place to start, with its easy-to-use interface and intuitive results.
However, as with any and all online tools, logging in and entering your information is just the first step. The real progress in paying off your debt will come from your dedication and motivation to do so. If you’re prepared to start budgeting and putting more money toward debt repayment, and considering options like consolidating and/or refinancing, Unbury Me can help you decide where and when to make those changes.
Compare the Best Student Loan Refinance Rates
Here are our top student loan refinance picks for 2019
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Student Debt Relief Loan Refinancing Advertiser Disclosure
College Ave: College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
College Ave Refi Education loans are not currently available to residents of Maine.
1 – The 0.25% auto-pay interest rate reduction applies as long as the borrower or cosigner, if applicable, enrolls in auto-pay and authorizes our loan servicer to automatically deduct your monthly payments from a valid bank account via Automated Clearing House (“ACH”). The rate reduction applies for as long as the monthly payment amount is successfully deducted from the designated bank account and is suspended during periods of forbearance and certain deferments. Variable rates may increase after consummation.
2 – $5,000 is the minimum requirement to refinance. The maximum loan amount is $300,000 for those with medical, dental, pharmacy or veterinary doctorate degrees, and $150,000 for all other undergraduate or graduate degrees. Information advertised valid as of 04/26/2019. Variable interest rates may increase after consummation.
3 – This informational repayment example uses typical loan terms for a refi borrower with a Full Principal & Interest Repayment and a 10-year repayment term, has a $40,000 loan and a 5.5% Annual Percentage Rate (“APR”): 120 monthly payments of $434.11 while in the repayment period, for a total amount of payments of $52,092.61. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
ELFI: Subject to credit approval. Terms and conditions apply. To qualify for refinancing or student loans consolidation through ELFI, you must have at least $15,000 in student loan debt and must have earned a bachelor’s degree or higher from an approved post-secondary institution.
LendKey: Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it endorse, any educational institution.
CommonBond: Offered terms are subject to change. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900). If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown. All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate.
Splash Financial: Terms and Conditions apply. Splash reserves the right to modify or discontinue products and benefits at any time without notice. Rates and terms are also subject to change at any time without notice. Offers are subject to credit approval.com
Earnest: To qualify, you must be a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card, reside in a state Earnest lends in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.earnest.com/eligibility. Not all applicants will be approved for a loan, and not all applicants qualify for the lowest rate. Approval and interest rate depend on the review of a complete application.
Earnest’s fixed-rate loan rates range from 3.89% APR (with autopay) to 7.89% APR (with autopay). Variable rate loan rates range from 2.50% APR (with autopay) to 7.27% APR (with autopay). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 8.95% for loan terms of 10 years or less. For loan terms of 10 to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95% (the maximum rates for these loans). Earnest variable interest rate loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 0.26% and 5.03% to the one month LIBOR. The rate will not increase more than once per month. Earnest rate ranges are current as of April 23, 2019 and are subject to change based on market conditions and borrower eligibility.
Auto Pay Discount: If you make monthly principal and interest payments by an automatic, monthly deduction from a savings or checking account, your rate will be reduced by one quarter of one percent (0.25%) for so long as you continue to make automatic, electronic monthly payments. This benefit is suspended during periods of deferment and forbearance.
The information provided on this page is updated as of 04/23/19. Earnest reserves the right to change, pause, or terminate product offerings at any time without notice.
Earnest loans are originated by Earnest Operations LLC. California Finance Lender License 6054788. NMLS # 1204917. Earnest Operations LLC is located at 303 2nd Street, Suite 401N, San Francisco, CA 94107. Terms and Conditions apply. Visit https://www.earnest.com/terms-of-service, e-mail us at email@example.com, or call 888-601-2801 for more information on our student loan refinance product.