Are you wondering if you should consolidate your debt into one loan? You might end up paying less interest and get out of debt faster with consolidation. Use this calculator to determine if consolidating your debt into one loan would be beneficial to you.
Enter the interest rate and term for the loan you plan to use to consolidate your debts.
Enter balance, monthly payment and rate information for all of your debts.
Consolidated Loan Interest Rate
Enter the interest rate for the loan you plan to consolidate your debts to.
Consolidated Loan Term
Enter the loan term or the number of months you plan to pay off an equity line for the loan you plan to consolidate your debts to.
How does the repayment schedule change if you just take the monthly amount you are currently paying and put it towards a consolidated loan?
Current balance of all your debt.
Current Total Interest
Total interest to be paid on all of your debt.
Current Monthly Payment
Current monthly payment for all of your debt.
Longest Term (Months)
Longest term remaining on all of your loans. This value is calculated using the
balance, payment and rate information you entered for all of your debts.
Consolidated Loan Balance
Total balance for your consolidated loan.
Consolidated Loan Total Interest
The total amount of interest you will pay on your consolidated loan.
Consolidated Loan Payment
Monthly payment for your consolidated loan.
Loan Term (Months)
Loan term in months for your consolidated loan.
Alternate Loan Balance
Balance for a consolidated loan with the same payment you are making now.
Alternate Loan Total Interest
The total amount of interest you will pay on a consolidated loan with your current
Alternate Loan Payment
The monthly payment on a consolidated loan that is equal to the sum of all your
current monthly payments.
Alternate Loan Term (Months)
Total number of monthly payments on a consolidated loan with your current payment.
Serving employees, independent contractors, or self-employed person who work in the health care industry in Shelby, Lauderdale, or Henderson Counties, Tennessee, or Desoto, Lafayette, Union or Prentiss Counties, Mississippi, or St. Francis, Mississippi, or Fulton Counties, Arkansas.1591 Chickering Ln.Cordova, TN 38016(901) 226-1111www.healthnetfcu.org
National Foundation for Credit Counseling promotes financially responsible behavior and delivers the highest quality financial education and counseling services.
The Association of Independent Consumer Credit Counseling Agencies (AICCCA) is a national membership organization, established to promote quality and consistent delivery of credit counseling services, and has links to additional information.
"Knee Deep In Debt", Federal Trade Commission
"For people on Debt Management Plans, a Must-Do List", Federal Trade Commission