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Debt Consolidation Calculator

Compare an existing debt payment and interest with a new fixed-rate consolidation payment, fees, and term.

Debt Consolidation Calculator Inputs

Enter a non-negative balance.

Results computed instantly — your data never leaves your device.

Live Debt Consolidation Calculator Results

Real-Time

New Monthly Payment

$265.59

New term 5 years; fees $500

Monthly Savings

$84.41

Current Interest

$7,727.83

New Interest

$3,435.28

Primary 75.9%Other 24.1%
100% Client-SidePrivate & Secure

How to Use the Debt Consolidation Calculator

  1. 1

    Enter the current debt balance, APR, and current payment.

  2. 2

    Enter the proposed consolidation APR, term, and fees.

  3. 3

    Review new payment, monthly savings, current interest, and new interest.

  4. 4

    Treat the result as a comparison model and verify actual lender terms.

Formula & Mathematical Basis

New P = Balance + Fees | New M = P × [r(1+r)^n] / [(1+r)^n − 1] | Monthly Savings = max(0, Current Payment − New M)

Variable Key

Balance

Current debt balance

Fees

Fees added to the consolidation balance

r

New monthly interest rate

n

New number of monthly periods

M

New fixed monthly payment

📝 The current plan uses an independent payoff simulation. The new plan uses the selected fixed term and includes entered fees.

Step-by-Step Examples

1

Compare two fixed plans

Scenario: $20,000 current balance at 22.99% with $600 payment versus a 10% five-year consolidation plan.

  1. 1.Simulate the current payment plan.
  2. 2.Add consolidation fees to the new balance.
  3. 3.Calculate the new fixed payment.
  4. 4.Compare payment and interest totals.
✅ The dashboard exposes both monthly savings and total interest so a lower payment is not the only metric.
2

Fee sensitivity

Scenario: The same new APR and term with fees changed.

  1. 1.Add fees to the balance.
  2. 2.Recalculate the new payment.
  3. 3.Recalculate new interest over the term.
  4. 4.Compare the changed totals.
✅ The model makes the fee impact visible.

Practical Use Cases

  • ✓ Compare current and proposed monthly payments.
  • ✓ Include one-time consolidation fees.
  • ✓ Review interest differences.
  • ✓ Test term and APR combinations.
  • ✓ Prepare questions for a lender or counselor.

Common Pitfalls

  • ⚠ Focusing only on lower monthly payment.
  • ⚠ Omitting origination or transfer fees.
  • ⚠ Assuming the new APR is guaranteed.
  • ⚠ Treating savings as guaranteed approval.
  • ⚠ Ignoring prepayment penalties or variable terms.

Frequently Asked Questions

What does consolidation compare?

It compares a current fixed-payment payoff simulation with a new fixed-rate payment built from balance, fees, APR, and term.

Are fees included?

Yes. Entered consolidation fees are added to the new balance before calculating the new payment.

Does monthly savings guarantee lower total cost?

No. A lower monthly payment can come from a longer term; compare current and new total interest as well.

Does this include a lender offer?

No. It is a client-side comparison model and not a credit decision or binding quote.

Debt & Credit Calculators

Plan payoff order, credit utilization, consolidation, and borrowing costs with transparent estimates.