Free Debt Consolidation Calculator

It compares the modeled monthly payment, payoff time, interest, and fees for your current debts with a hypothetical consolidation loan. This calculator also shows first-year principal reduction, a same-budget payoff path, and the break-even loan APR.

It is an educational estimate based on the balances, APRs, payments, fees, and terms you enter. Real statements may use daily interest, changing minimums, promotional rates, late fees, or other rules that produce different results.

No. The calculator runs in your browser and does not submit, store, or place your debt entries in a URL. Only a separate contact form sends information, and you should never put account numbers or other sensitive details in it.

Yes. Enter debts totaling $50,000 and test the APR, fee, and term from the loan you are considering. The math does not determine whether you qualify for that amount or what rate a lender may offer.

The core comparison is the same: multiple eligible balances and payments are compared with one proposed loan. Confirm that each bill can legally and practically be refinanced before including it.

You can model mixed rows, but the calculator only compares cash flows. Secured auto debt, medical payment arrangements, and unsecured credit can have different rights, fees, tax treatment, or consequences that the math does not capture.

No. A lower payment can come from a longer term and may increase total interest. The CFPB specifically warns that lower monthly payments may reflect a longer payoff period, so compare both total cost and payoff time.

APR is designed to express borrowing cost on an annual basis and can make loan comparisons more useful. Still enter origination fees separately here because lender disclosures and fee treatment can vary.

It is the highest modeled loan APR that produces no greater total interest-and-fee cost than keeping the current debts, given the selected term and fee. It is a mathematical threshold, not a prediction of the rate you can receive.

A fee increases the cost of the new loan immediately. If it is added to the modeled balance, it can also accrue interest. Verify whether a real lender deducts, adds, or separately charges the fee and adjust the scenario accordingly.

The entered monthly payment is less than or equal to that month's modeled interest, so the balance cannot fall under the fixed-payment assumption. Check the statement values or increase the payment in the scenario.

It applies the total amount you currently pay across debts to the consolidation loan, even when the required loan payment is lower. The comparison shows how maintaining that budget could shorten payoff and reduce interest.

Mark eligible credit-card balances, then enter the transfer fee, promotional APR and duration, post-promotion APR, and planned payment. Compare that path with the fixed-rate personal loan on total cost, payoff time, and monthly commitment.

Yes. Enter one or more card balances as current debts and compare them with a proposed personal loan. Use the lender's actual APR, term, and fee, and remember that using paid-off cards again would change the outcome.

Use the consolidation-loan fields for its fixed APR, term, and origination fee. The calculator does not assess creditworthiness, lender eligibility, variable-rate clauses, or whether the loan is truly unsecured.

You can compare the payment math, but an auto loan may be secured by the vehicle. A replacement loan can change collateral rights, insurance requirements, prepayment terms, and repossession risk, none of which this calculator values.

It is generally a personal installment loan used to pay multiple debts, leaving one scheduled payment. A single payment can be simpler, but whether it is cheaper depends on the APR, fees, term, and what happens to the old accounts.

No. Consolidation replaces or combines debts while generally preserving the amount owed. Debt settlement involves trying to resolve debt for less than owed and can involve serious credit, collection, fee, and tax consequences.

This calculator cannot predict a credit-score change. An application, new account, payment history, balances, utilization, account closures, and later card use can all affect credit files differently.

Do not rely on a calculator alone. The CFPB advises acting promptly, contacting card issuers, and considering reputable nonprofit credit counseling. Be cautious of companies that guarantee relief or tell you to stop paying creditors.

Not as ordinary unsecured debt. Federal consolidation and refinancing can affect repayment plans, forgiveness access, deferment, and other protections. Start with StudentAid.gov or your federal loan servicer for current program information.

It can reproduce basic payment math, but it does not model closing costs, tax issues, property-value risk, or the fact that failure to repay a home-secured loan can put the home at risk.

Use the disclosed APR, amount financed, origination fee, payment, term, total of payments, prepayment rules, and whether fees are deducted or financed. Ask the lender to explain any figure that does not match your model.

Stress-test a higher APR, a longer term, and the actual fee; confirm every eligible payoff amount; check your budget; and compare the result with the lender's formal disclosures. A modeled saving does not guarantee approval or a better real-world outcome.