Minimum payment on credit cards is normally calculated at 3% of the balance. Loan payments could be higher.
The calculation above assumes your minimum payments on your debt are 3% of the total you owe.
Your Affordable level
The above figure assumes that 15% of your take home pay is a reasonable sum to pay to your creditors. This depends on your circumstances. If you are paying more than 25 to 30% of your take home pay on debt, this is likely to leave you with insufficient money to live on.
These figures should only be used as a guide. They are estimates based on the top level information you have provided. To get an accurate picture of your finances, we recommend you complete the full debt calculator with accurate figures on your debt, debt payments and monthly income and expenditure.