Debt Consolidation Calculator — Is It Worth It? — Calculator
Compare your current debt path vs. consolidating into a personal loan — including origination fees. Free, instant, and accurate.
Debt Consolidation
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Enter Values
Current Total Monthly Payment
$200.00/mo
New Consolidated Monthly Payment
$589.04/mo
Current Plan — Total Interest
▼ $3,775
Consolidation Plan — Total Interest
$438
Origination Fee (2.00%)
▼ $130
Current Plan — Estimated Payoff
4yr 4mo
Consolidation Loan — Term
1yr
Current Plan — Total Cost (Principal + Interest)
$10,275
Consolidation — Total Cost (Principal + Interest)
$7,068
Scenario Comparison
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Current Plan
Monthly Payment
$200.00/mo
Total Interest
$3,775
Timeline
4yr 4mo
Total Cost
$10,275
Consolidation
Monthly Payment
$589.04/mo
Total Interest
$438
Timeline
1yr
Total Cost
$7,068
$389.04/mo
$3,206
Total Lifetime Savings (after fees)
Balance Over Time
- Consolidation
- Current Plan
Rate Analysis
Weighted Avg. Current Rate
23.00%
New Consolidation Rate
11.99%
Your consolidation rate (11.99%) is 11.01% lower than your weighted average — this makes consolidation mathematically favorable.
Origination Fee
$130
Your Existing Debts
| Debt | Balance | Rate | Payment |
|---|---|---|---|
| Card A | $6,500 | 23.00% | $200/mo |
| Total | $6,500 | 23.00% avg | $200/mo |
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