Your plan, in two choices
Setting up your payoff plan comes down to two decisions: how much to contribute, and which order to pay your debts in.
Your contribution
You choose how much goes toward debt each cycle. Lorica pulls that amount from your linked bank into your clearing account, then pays it out to your creditors. You can change the amount or pause it anytime — nothing is locked in.
Avalanche or snowball
Avalanche pays your highest-interest debt first. This costs you the least in interest and pays everything off soonest. It's the default for a reason.
Snowball pays your smallest balance first. You clear individual debts faster, which some people find more motivating, even though it can cost a little more in interest.
Either way, Lorica always pays at least the minimum on every debt, then puts your extra contribution toward the target debt.
Your payoff date
Once your debts and contribution are set, Lorica shows your estimated payoff date — when you'll be debt-free if you stick with the plan. Put more toward it, and that date moves closer.
Changing your plan later
Nothing here is permanent. You can adjust your contribution, switch between avalanche and snowball, or pause entirely whenever life changes. (See "Changing your plan.")