Calculate Your Debt Load Worksheet

Tips for Using a Debt Worksheet

Woman paying bills
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Getting out of debt starts with an honest assessment of your debt load—how much debt you have on a regular basis. This number is important to creditors as they compare this figure to your income.

Dig out those credit card statements and bills, and find out exactly where you stand with all of your creditors.

Tips for Using a Debt Worksheet

  • For an accurate picture of your debt load, be sure to include credit cards, car loans, student loans, home equity loans, personal loans, loans from friends and family, medical bills and any other type of debt that you might carry
  • Don’t include your mortgage on the worksheet. It’s an acceptable debt and the last one that you’ll want to pay off
  • List the minimum payments due on all of your accounts, even if you’re accustomed to paying more than this amount. You can build in extra payments later
  • Track the progress of your debt pay off by completing this form every quarter—seeing that balance go down can be highly motivating

What Do I Do Next?

Once you’ve completed the Debt Load Worksheet it’s time to start planning how you’re going to make all of that debt vanish. Use the Debt Repayment Plan Worksheet to plan your attack.