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Formula & explanation
Debt Consolidation Calculator uses the following calculation:
This is a simplified model intended for planning and education. Real-world offers from lenders, institutions, or tax authorities may include additional fees, rules, or adjustments not reflected here.
Frequently asked questions
Does consolidation always save money?
Only if the new rate is meaningfully lower than your weighted average current rate, or if a longer term meaningfully lowers cash-flow strain — check total interest, not just the payment.
What debt types can be consolidated?
Credit cards, personal loans, and some other unsecured debts are commonly combined into a single personal loan or balance-transfer product.
Are there fees for consolidation loans or balance transfers?
Often yes — origination fees or balance transfer fees (commonly 3–5%) can offset some of the interest savings.