Calculator
Debt Consolidation Calculator
This debt consolidation calculator compares paying your current debts at your present payment with replacing them by a single new loan. It shows the new payment, the monthly change, the total interest on the new loan, and how long your current payment would take to clear the same balance.
Advertising disclosure: Paydayloaning may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. The lowest rates are only available to the most qualified applicants. Read the full disclosure.
Enter your numbers and press Calculate. Nothing you type leaves your browser.
How this calculator works
Debt consolidation replaces several debts with one loan, usually aiming for a lower rate, a single payment, or a shorter payoff. The calculator runs two paths side by side using the same total balance.
The current path uses your average rate and the amount you pay now per month to estimate how long the balance takes to clear. The new path uses the consolidation loan's rate and term to set a fixed payment and total interest. If your current payment does not cover the monthly interest, the current path never pays off and the calculator says so instead of guessing.
Consolidation only helps if you stop adding new balances to the debts you pay off. Enter the rates you actually have, since both the current average and the new loan rate drive the result.
Advertising disclosure: Paydayloaning may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. The lowest rates are only available to the most qualified applicants. Read the full disclosure.