Debt Consolidation Calculator
See if consolidating your debts could lower your monthly payment and reduce total interest paid.
See if consolidating your debts could lower your monthly payment and reduce total interest paid.
Debt consolidation combines multiple debts into a single loan with one monthly payment. The goal is to reduce your interest rate and/or extend your term to lower your monthly obligation.
Consolidating $10,000 across three cards averaging 20% APR into a 10% personal loan over 60 months reduces your monthly payment and saves thousands in interest.
Extending a $10,000 debt from 3 years to 7 years at the same rate lowers your monthly payment but increases total interest paid. Always compare total cost, not just the monthly payment.
Original interest estimates assume minimum payments for each debt until paid off. New loan uses standard amortization. Results do not include origination fees or prepayment penalties.