🧾 How much would you save by settling old debts while studying?

When you are juggling nursing school and old debts, deciding whether to save your cash or settle accounts in collections is a major crossroads. This calculator shows exactly how much time and money you can save by taking advantage of settlement offers instead of paying the full balances.

A vehicle repossession leaves a large deficiency balance. Often, collection agencies will settle this for pennies on the dollar if you can offer a lump sum. Enter your repo balance and the settlement offer you received.

Credit card charge-offs are frequently sold to debt buyers or handled by internal recovery departments who will accept a percentage of the balance. Enter your specific bank debt here.

If you have other charged-off cards, group them here. Settlement offers of 40% off (meaning you pay 60%) are common.

To settle debts, you need cash. By keeping your living expenses low, you can funnel your part-time income into a settlement fund. This calculator assumes your accounts are in collections and no longer accruing interest. Enter your monthly earnings and essential expenses.

This view was inspired by:

• debt-avalanche-vs-snowball

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