gold dollarDebt Consolidation Calculator

A debt consolidation calculator may be able to help you determine whether consolidating all your debts is the right course of action or not.

There are pros and cons to consolidating debt so be sure to do your due diligence before making a decision.

Losing debt is like losing weight. You have to be consistent and committed to the process of lowering your debt and keeping your debt load under control. That is the key to long-term success. Failing to maintain a committment to debt reduction usually results in even more ballooning debt, following the same yo-yo patterns as weight loss.

This debt consolidation calculator can be helpful in showing you whether at least one of the following will occur in your situation:

  • either your total monthly payment has to decrease, or
  • the net amount of interest being paid has to decrease, or
  • the actual total debt has to be reduced as a result of the consolidation.

Debt Consolidation Calculator V3
This calculator will show you how consolidating your all of your debts into one lower interest loan can reduce your monthly payments.

Enter each one of the debts that you would like to pay off, along with their corresponding principal balances, interest rates, and monthly payment amounts. Once you have all your debts entered, make any desired changes to the "New Loan Information" default entries and then click on the "Calculate New" button.

Balance Payment Interest
Additional Cash?
New Loan Information
Enter data about your planned New Loan with us (change any of the proposed numbers below).
Proposed interest rate (%):
Loan term:
Estimated closing costs ($):
Federal & state tax rate (%):
Results Current New Loan
Total debts:
Effective rate before taxes:
Effective rate after taxes:
Total monthly payment:
Monthly savings:
Annual savings:
Five year savings:
Ultimate Savings Report
What if you were to pay the same OLD payments instead of your NEW LOWER PAYMENTS... (which is your choice every month)... your monthly SAVINGS will reduce the loan principal each month, SHORTENING the loan itself... without ANY more costs than you used to pay.
Total years SAVED if same OLD payments are made on NEW loan:
Total years until "FREE & CLEAR" if savings are paid to principal:
TOTAL INTEREST SAVED over life of loan if savings are applied to principal:

Here are a few options for consolidating debt:

green arrow  Home Equity Loans

green arrow   Home Equity Line of Credit

green arrow   Zero Percent Credit Cards

Our "Debt Consolidation Calculator" is just one of many free online finance calculators. Find them all here.

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To achieve financial freedom, ideas such as: listening to good advice, learning how to make a budget, understanding credit repair possibilities, avoiding the scams, and generally becoming more knowledgeable of the credit card business, can all play a role in eliminating credit card and other debt. There is A smarter way to manage your money.

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