Debt Consolidation Calculator USA

A debt consolidation calculator is a financial tool that helps you determine if combining multiple debts into a single loan is financially beneficial. It calculates monthly payments, total interest, and payoff time for your existing debts versus a consolidation loan.

You enter your existing debts’ balances, monthly payments, and interest rates along with the consolidation loan details. The calculator then compares your current debt APR with the loan APR, estimates total payments, interest savings, and upfront costs.

Not always. Debt consolidation can save you money if the consolidation loan has a lower APR than your current debts. It may not be beneficial if the loan term is too long or fees outweigh the savings. Using our calculator helps you make an informed decision.

Yes, you can include credit cards, personal loans, high-interest debts, and other liabilities. Enter each debt separately with its balance, monthly payment, and interest rate for accurate consolidation calculations.

The calculator provides a close estimate based on the data you input. It assumes fixed interest rates and consistent monthly payments. Actual results may vary depending on variable rates, fees, or changes in your repayment behavior.