Your Debts (Before Consolidation)
Enter each debt’s balance, APR, and minimum payment. We’ll simulate a payoff plan using a monthly payoff budget (default: equal to the consolidation loan payment).
Consolidation Loan (After)
Comparison
Before: multiple debts • After: one loan
Total balance
$0
New monthly payment
$0
Interest (before)
$0
Interest (after)
$0
Payoff time (before)
-
Payoff time (after)
-
Interest savings: $0
Charts
Compare balance and interest over time before vs after consolidation.
Total Balance Over Time
Cumulative Interest Paid
How Debt Consolidation Loan Calculations Work
This tool helps you compare two paths:
- Before consolidation: multiple debts with different APRs and minimum payments
- After consolidation: one new loan with a single APR and fixed term
Loan payment formula
We use standard amortization to compute the monthly payment based on principal, APR, and term.
Important notes
- This does not include origination fees or balance transfer fees (add them into balances to approximate).
- Real loans may have variable rates or different compounding rules.
- Lower monthly payment can increase total interest if the term is much longer.
When Consolidation Can Help (and When It Doesn’t)
Often helpful
- New APR is meaningfully lower
- You want one payment for simplicity
- You keep (or increase) your monthly payoff budget
Often not helpful
- New term is much longer (interest can increase)
- Fees wipe out APR savings
- You reduce your monthly payment too much
This is a planning tool, not financial advice.