Calculators / Debt Consolidation Calculator
Debt Consolidation Calculator
Compare paying your debts as you do now with rolling them into one personal or consolidation loan, fees included.
Example using typical numbers. Change any value to see your own.
Consolidating saves $5,946.05 in interest and fees, and you're debt-free 1 year 10 months sooner.
| Pay as you do now | Consolidation loan | |
|---|---|---|
| Amount owed | $14,300.00 | $15,052.64 (with $752.64 fee) |
| Monthly payment | $435.00 | $503.57 |
| Time to pay off | 4 years 10 months | 3 years |
| Interest | $9,774.41 | $3,075.72 |
| Fees | $0.00 | $752.64 |
| Interest and fees | $9,774.41 | $3,828.36 |
| Rate | 24.52% average | 12.5% (16.12% APR with the fee) |
| Balance | APR | Payment | Paid off in | |
|---|---|---|---|---|
| Debt 1 | $8,000.00 | 24.99% | $240.00 | 4 years 10 months |
| Debt 2 | $4,500.00 | 21.49% | $135.00 | 4 years 4 months |
| Debt 3 | $1,800.00 | 29.99% | $60.00 | 4 years 9 months |
“Pay as you do now” keeps each debt's payment the same until that debt is paid off. Card minimums usually fall as balances do, which would make that side slower and cost more.
Consolidation only helps if the paid-off cards stay paid off. Running them up again leaves you with the loan and new card debt.
The loan payment is $68.57 a month more than you pay now. A longer term lowers it but adds interest.
Consolidation loan schedule
| Year | Paid | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | $6,042.84 | $1,634.72 | $4,408.12 | $10,644.52 |
| 2 | $6,042.84 | $1,051.00 | $4,991.84 | $5,652.68 |
| 3 | $6,042.68 | $390.00 | $5,652.68 | $0.00 |
Every payment
| Month | Date | Payment | Interest | Principal | Balance |
|---|---|---|---|---|---|
| 1 | Dec 2026 | $503.57 | $156.80 | $346.77 | $14,705.87 |
| 2 | Jan 2027 | $503.57 | $153.19 | $350.38 | $14,355.49 |
| 3 | Feb 2027 | $503.57 | $149.54 | $354.03 | $14,001.46 |
| 4 | Mar 2027 | $503.57 | $145.85 | $357.72 | $13,643.74 |
| 5 | Apr 2027 | $503.57 | $142.12 | $361.45 | $13,282.29 |
| 6 | May 2027 | $503.57 | $138.36 | $365.21 | $12,917.08 |
| 7 | Jun 2027 | $503.57 | $134.55 | $369.02 | $12,548.06 |
| 8 | Jul 2027 | $503.57 | $130.71 | $372.86 | $12,175.20 |
| 9 | Aug 2027 | $503.57 | $126.83 | $376.74 | $11,798.46 |
| 10 | Sep 2027 | $503.57 | $122.90 | $380.67 | $11,417.79 |
| 11 | Oct 2027 | $503.57 | $118.94 | $384.63 | $11,033.16 |
| 12 | Nov 2027 | $503.57 | $114.93 | $388.64 | $10,644.52 |
| 13 | Dec 2027 | $503.57 | $110.88 | $392.69 | $10,251.83 |
| 14 | Jan 2028 | $503.57 | $106.79 | $396.78 | $9,855.05 |
| 15 | Feb 2028 | $503.57 | $102.66 | $400.91 | $9,454.14 |
| 16 | Mar 2028 | $503.57 | $98.48 | $405.09 | $9,049.05 |
| 17 | Apr 2028 | $503.57 | $94.26 | $409.31 | $8,639.74 |
| 18 | May 2028 | $503.57 | $90.00 | $413.57 | $8,226.17 |
| 19 | Jun 2028 | $503.57 | $85.69 | $417.88 | $7,808.29 |
| 20 | Jul 2028 | $503.57 | $81.34 | $422.23 | $7,386.06 |
| 21 | Aug 2028 | $503.57 | $76.94 | $426.63 | $6,959.43 |
| 22 | Sep 2028 | $503.57 | $72.49 | $431.08 | $6,528.35 |
| 23 | Oct 2028 | $503.57 | $68.00 | $435.57 | $6,092.78 |
| 24 | Nov 2028 | $503.57 | $63.47 | $440.10 | $5,652.68 |
| 25 | Dec 2028 | $503.57 | $58.88 | $444.69 | $5,207.99 |
| 26 | Jan 2029 | $503.57 | $54.25 | $449.32 | $4,758.67 |
| 27 | Feb 2029 | $503.57 | $49.57 | $454.00 | $4,304.67 |
| 28 | Mar 2029 | $503.57 | $44.84 | $458.73 | $3,845.94 |
| 29 | Apr 2029 | $503.57 | $40.06 | $463.51 | $3,382.43 |
| 30 | May 2029 | $503.57 | $35.23 | $468.34 | $2,914.09 |
| 31 | Jun 2029 | $503.57 | $30.36 | $473.21 | $2,440.88 |
| 32 | Jul 2029 | $503.57 | $25.43 | $478.14 | $1,962.74 |
| 33 | Aug 2029 | $503.57 | $20.45 | $483.12 | $1,479.62 |
| 34 | Sep 2029 | $503.57 | $15.41 | $488.16 | $991.46 |
| 35 | Oct 2029 | $503.57 | $10.33 | $493.24 | $498.22 |
| 36 | Nov 2029 | $503.41 | $5.19 | $498.22 | $0.00 |