Calculator
Debt Consolidation Calculator
A debt consolidation calculator compares your current debts with a single new loan. It shows the new monthly payment, the total interest on each path, and whether consolidating saves you money.
Advertising disclosure: EmergencyLoaning may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. The lowest rates are only available to the most qualified applicants. Read the full disclosure.
- Runs in your browser
- No sign-up
- Free
Enter your numbers and press Calculate. Nothing you type leaves your browser.
How this calculator works
Debt consolidation replaces several debts with one loan. The goal is usually a lower rate, a single payment, or a shorter payoff.
The calculator compares two paths:
- Current debts: total balance B, average APR, and the total you pay each month. Payoff time is n = -ln(1 - r * B / M) / ln(1 + r).
- New loan: payment M = P * r * (1 + r)^n / ((1 + r)^n - 1), with total interest M * n - P.
If your current payment does not cover the monthly interest, the current path never pays off and the calculator says so instead of guessing.
Enter your own rates. Consolidation loans are priced on credit history and the lender's terms, so the result is an estimate.
How to use this calculator
Enter your numbers
Everything runs in your browser. Nothing you type is sent to us.
Read the result
The result shows the headline figure and the numbers behind it, so you can see where the cost comes from.
Check the rules before you apply
State caps and licensing decide what a lender may offer you. The state reference lists both with their sources.
Before you apply, run the numbers
The calculators are free and run in your browser. When you are ready to look at real offers, the link below goes to our referral partner.
Advertising disclosure: EmergencyLoaning may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. The lowest rates are only available to the most qualified applicants. Read the full disclosure.