Debt Consolidation Calculator

Your Existing Debts

#	Debt Name	Remaining Balance	Monthly Payment	Interest Rate

Proposed Consolidation Loan

Loan Amount ($)

Interest Rate (%)

Loan Term (Years)

Loan Term (Months)

Loan Fee / Points (%)

Comparison Results

Existing Debts

Total Balance $0

Total Monthly Payment $0

Est. Time to Payoff —

Total Interest $0

Consolidation Loan

Loan Amount Received $0

Monthly Payment $0

Time to Payoff —

Total Interest + Fees $0

Potential Savings with Consolidation

$0

Total Cost Comparison

Monthly Payment Comparison

Debt Consolidation Calculator Guide

What is Debt Consolidation?

Debt consolidation is the process of taking out a new loan to pay off multiple existing debts. This combines several payments into one, often at a lower interest rate.

When Consolidation Makes Sense

Your new consolidation loan has a **significantly lower interest rate** than your current debts.
You can comfortably afford the new monthly payment.
You want to simplify your finances with a single payment.
The loan fees are not too high relative to the interest savings.

Key Metrics Compared

Total Interest: How much interest you will pay over the life of the debt.
Time to Payoff: How long until you are debt-free.
Monthly Payment: Your monthly cash flow impact.
Loan Fees: Upfront costs of the consolidation loan.

Important Warning

Consolidation is not always the best choice. If the new interest rate is not much lower, or if the loan term is much longer, you may end up paying more in total interest. Always compare the numbers carefully.