Debt Consolidation Calculator

See if combining your current debts into a single new loan will save you money.

1. Your Current Debts

2. New Consolidation Loan

*Added to your new loan balance.

Cash Flow Impact

Old Monthly Payments: $0
New Monthly Payment: $0
Monthly Difference: $0
Total Lifetime Difference: $0
Total Interest Saved
$0
New Total Debt Balance
$0
Graph shows the Total Cumulative Amount paid out of your pocket over time.

Things to Consider

  • The Term Extension Trap: Consolidation often dramatically lowers your monthly payment simply by stretching the debt out over a longer period (e.g., turning a 2-year credit card debt into a 7-year personal loan). This can cost you thousands more in total interest.
  • Hidden Setup Fees: Remember that breaking fixed loans may incur early exit fees, and new loans often have establishment fees. Ensure these are factored into your calculations.
  • Credit Score Impact: Rolling several messy debts into a single, reliably paid loan can have a positive effect on your credit rating over time, making future lending easier.
  • General Information Only: The information on this website is for general information only. It should not be taken as constituting professional advice from the website owner, ClearCents.
  • No Financial Advice: The information provided is general only and has been prepared without taking into account your specific objectives, financial situation, or individual needs. You should consider seeking independent legal, financial, taxation, or other advice to check how this information relates to your unique circumstances.
  • Liability: ClearCents is not liable for any loss caused, whether due to negligence or otherwise, arising from the use of, or reliance on, the information provided directly or indirectly by this tool.
  • Illustrative Purpose: The results provided by this calculator should not be taken as a substitute for professional advice. ClearCents provides no warranties and makes no representation that the information provided is appropriate for your particular circumstances or indicates you should follow a particular course of action.
  • Static Interest Rates: Interest rates for both the current debts and the new consolidation loan are assumed to remain static and unchanged for the full duration of the projection.
  • Fees and Charges: Upfront establishment fees, administrative costs, or balance transfer fees are assumed to be added directly to the new loan balance as specified in what you have inputs.
  • Interest-Free Promotional Periods: For credit card balance transfers, any promotional 0% interest rate is applied strictly for the specified number of introductory months, after which the standard revert rate applies to any remaining balance.
  • Amortization and Repayments: Calculations use standard financial amortization formulas assuming consistent, on-time monthly payments and principal-and-interest structures.