Calcs4All

APR 23 · 2026

Debt consolidation calculator

Compare a new consolidation loan against keeping several debts separate.

What this calculator covers

Use this calculator to roll several balances into one new loan and compare the result with keeping your current debts separate.

The comparison is deliberately simplified: it holds each current payment and rate steady until payoff so the tradeoff stays transparent.

Frequently asked questions

Does a lower monthly payment always mean consolidation saves money overall?
Not necessarily. A lower payment often comes from a longer loan term, which can increase total interest paid even if the rate improves. Review both the monthly payment change and the total interest comparison before deciding.
What fees does this calculator include?
The calculator does not include origination fees, balance-transfer fees, or prepayment penalties. Adding those costs to the upfront amount would reduce any estimated savings.
How many debts can I enter?
Up to four separate debts can be entered. Rows with a balance and payment of zero are ignored, and at least two active rows are required for the comparison to run.
Will consolidating debt hurt my credit score?
Credit scoring is not modeled here. Applying for a new loan typically results in a hard inquiry, and closing old accounts can affect credit utilization; consult a financial professional for personalized guidance.

Tool

Run the calculation

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RESULT · CONSOLIDATED PAYMENT

â„–209

Primary result

$270.92

Rolling $12,900.00 of balances into a 5-year consolidation loan at 9.5% sets a new payment of $270.92 per month versus the current $425.00 total minimum payment, with estimated total savings of $1,544.56 under the simplified comparison.

New monthly payment
$270.92
Current monthly payment total
$425.00
New total interest
$3,355.44
Estimated existing total interest
$4,900.00
Estimated total savings
$1,544.56

Step-by-step solution

  1. 1.Add the active debt balances to get $12,900.00 of principal to refinance into one new loan.
  2. 2.Estimate the status quo by keeping each current payment and current interest rate until payoff, which produces a simplified existing total cost of $17,800.00.
  3. 3.Solve the new amortizing loan payment over 60 months at 9.5% to compare payment, total interest, and estimated savings.

Walkthrough

Visual walkthrough

Debt consolidation compares the cost of leaving each current debt alone versus replacing them with one new amortizing loan.

  1. 01

    Combine the balances

    $12,900.00 total debt

    The new consolidation loan starts by paying off every included balance in full.

  2. 02

    Estimate the current path

    47 months until the longest current payoff

    The comparison assumes each current debt keeps the same rate and monthly payment until it is paid off.

  3. 03

    Read the new loan comparison

    The consolidation payment may be lower or higher than current payments depending on the new rate and term, and the total cost can move separately from the monthly payment.

    $270.92 consolidated payment