Debt Consolidation Loan Calculator

Debt consolidation combines multiple debts (credit cards, personal loans, medical bills) into one new loan, ideally at a lower interest rate than what you're currently paying across those debts. Instead of juggling several payments, you make one payment on the new consolidation loan.

Not automatically — it depends on the new loan's rate and term. A lower rate typically reduces your monthly payment and total interest, but a longer repayment term can increase total interest paid even at a lower rate. Compare both numbers, not just the monthly payment.

Most commonly credit cards, personal loans, medical debt, and other unsecured consumer debt. This calculator is for general (non-student-loan) debt — for federal student loans specifically, use a dedicated student loan consolidation or refinance calculator instead, since those follow different rules.

Applying for a new consolidation loan involves a credit check, and closing old accounts can affect your credit utilization and average account age — the overall effect varies by individual credit profile. This calculator only covers the payment math, not credit-score impact.

It's the weighted average of all your current debts' rates, weighted by balance — a debt with a bigger balance counts more toward the average. It's a quick way to see whether a new consolidation loan's rate is actually an improvement over what you're paying across everything today.

Enter it to see your break-even point — how many months of monthly savings it takes to recoup the upfront fee. If you plan to pay off the loan faster than the break-even point, the fee may outweigh the savings.