> ## Documentation Index
> Fetch the complete documentation index at: https://help.joinmiyo.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Compare debt payoff plans

> Add debt details and payments in Miyo, then compare avalanche, snowball, and custom payoff plans while understanding the limits of projections.

The Debt workspace combines balances, minimum payments, due dates, and payoff scenarios. It is a planning tool; your lender remains the source of truth for balances, rates, and required payments.

## Add a debt

You can create a debt manually or choose **Import from connected account** when an eligible credit or loan account already exists in Miyo.

Enter or confirm:

* Current balance.
* Standard APR and any promotional APR end date.
* Minimum payment.
* Due day.
* Credit limit for utilization calculations.

<Tip>
  An imported account can supply balance context, but you may still need to add the minimum payment, due date, and APR from the latest statement.
</Tip>

## Choose a payoff strategy

| Strategy      | Prioritizes            | Tradeoff                            |
| ------------- | ---------------------- | ----------------------------------- |
| **Avalanche** | Highest APR first      | Often minimizes projected interest  |
| **Snowball**  | Smallest balance first | Creates earlier account payoffs     |
| **Hybrid**    | Quick wins plus APR    | Balances momentum and interest cost |

Enter a **Monthly debt payment budget** at or above the total minimum payments. Miyo estimates a payoff date, order, suggested payment, and interest difference from a minimum-only scenario.

<Warning>
  Payoff results are projections, not lender quotes or financial advice. Variable rates, new purchases, fees, compounding methods, payment timing, and missing data can change the real outcome.
</Warning>

## Record a payment

Use the debt's payment action to record the amount and any available principal, interest, or fee detail. This updates Miyo's ledger and balance history.

<Note>
  Recording a debt payment in Miyo does not send money to the lender. Make the real payment through the lender or your bank.
</Note>

## Household privacy

When a debt is shared, your partner can see the due-date rhythm needed for household coordination. Miyo keeps private strategy details such as APR, utilization, promotional rates, notes, and payoff math out of the partner view.