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Should I consolidate my personal debt?

It may make sense to consolidate some of your credit card and other personal debt into a new consolidated loan, typically a home-equity loan. Consolidation loans can significantly reduce your required monthly payment because they are generally amortized over 10 or 15 years. Use this debt consolidation calculator to see how quickly you could get out of debt and how much interest you might save.

Consolidated Loan Information

Annual percentage rate: (0-30) %
Number of years (1-40)

Current Debt Information

  Balance Monthly Payment Yearly Rate
Credit card 1 $ $ (0-30) %
Credit card 2 $ $ (0-30) %
Credit card 3 $ $ (0-30) %
Credit card 4 $ $ (0-30) %
Auto loan 1 $ $ (0-30) %
Auto loan 2 $ $ (0-30) %
Boat/RV loan $ $ (0-30) %
Other loan 1 $ $ (0-30) %
Other loan 2 $ $ (0-30) %
Other loan 3 $ $ (0-30) %
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This calculator is provided by Financial Calculators, Inc., and is intended solely for general information and education purposes. You should not take any action on the basis of the information provided through this calculator. Please see the disclaimer for further information and limitations.

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