Debt Consolidation Calculator
See whether rolling your debts into one consolidation loan saves money each month and over time.
Inputs
How it works
We simulate paying minimums on each current debt month-by-month, then compare total interest to a single amortizing loan at the new rate and term.
Frequently asked questions
Is consolidation always cheaper?
Only if the new rate is lower than your blended current rate or the longer term significantly reduces stress. Watch for origination fees.
Does it hurt my credit?
There's a temporary dip from the hard pull and the new account, but paying on time usually improves credit long-term.
What if I keep using the old cards?
That's the biggest risk. Don't consolidate unless you have a plan to stop adding new debt.
What's the alternative?
Debt snowball or avalanche without a new loan. Sometimes a 0% balance transfer beats a personal loan if you can pay it off before the promo ends.
Is there a tax impact?
Personal-loan interest is usually not deductible. There's no income tax on a consolidation loan itself.