Debt Consolidation Calculator

Compare your current debt payoff plan with a new consolidation loan. See monthly payment changes, payoff timelines, and total interest savings before you refinance.

Full original guide (expanded)

Debt Consolidation Calculator

Compare the cost of staying with your current debts versus combining them into one consolidation loan. See new payments, interest savings, and payoff timelines before you apply.

Author: Ugo Candido Reviewed by: Finance Content Editor Last updated: Category: Finance → Loans & Debt

Currency

Your current debts

Add each debt you plan to consolidate with its balance, APR, and monthly payment.

Consolidation loan

Fee handling

Financing the fee increases the new loan balance and interest. Paying upfront keeps the balance lower.

Results

Current monthly payments $0.00
Consolidation payment $0.00
Monthly cash flow change $0.00
Interest (keep current plan) $0.00
Interest (consolidation) $0.00
Interest savings $0.00
Debt-free with current plan 0 months
Debt-free with consolidation 0 months
Total principal consolidated $0.00
Ready to calculate

Data Source and Methodology

The calculator uses the standard amortization identity referenced by the Consumer Financial Protection Bureau (CFPB) and Truth in Lending (Regulation Z) Appendix J. Each debt is amortized separately using your specified payment; the consolidation loan uses the APR and term you enter. Origination fees can be financed (added to the new loan amount) or paid upfront.

Formulas Used

Monthly rate: \( r = \dfrac{\text{APR}}{12 \times 100} \)

Months to pay a debt: \( n = \dfrac{-\ln\left(1 - \dfrac{rB}{P}\right)}{\ln(1+r)} \) if \( r > 0 \); otherwise \( n = \dfrac{B}{P} \)

Interest paid on a debt: \( I = n \cdot P - B \)

Consolidation payment: \( P_c = \dfrac{L r_c}{1 - (1 + r_c)^{-N}} \) (or \( L/N \) if \( r_c = 0 \))

Tips before consolidating

  • Verify that the new APR and term truly lower total interest, not just monthly payments.
  • Look out for origination fees or prepayment penalties on existing debts.
  • Consider continuing to pay extra principal even if the new payment is lower to accelerate payoff.
Audit: Complete
Formula (LaTeX) + variables + units
This section shows the formulas used by the calculator engine, plus variable definitions and units.
Formula (extracted LaTeX)
\[','\\]
','\
Formula (extracted text)
Monthly rate: \( r = \dfrac{\text{APR}}{12 \times 100} \) Months to pay a debt: \( n = \dfrac{-\ln\left(1 - \dfrac{rB}{P}\right)}{\ln(1+r)} \) if \( r > 0 \); otherwise \( n = \dfrac{B}{P} \) Interest paid on a debt: \( I = n \cdot P - B \) Consolidation payment: \( P_c = \dfrac{L r_c}{1 - (1 + r_c)^{-N}} \) (or \( L/N \) if \( r_c = 0 \))
Variables and units
  • P = principal (loan amount) (currency)
  • r = periodic interest rate (annual rate ÷ payments per year) (1)
  • n = total number of payments (years × payments per year) (count)
  • M = periodic payment for principal + interest (currency)
  • E = extra principal payment per period (currency)
Sources (authoritative):
Changelog
Version: 0.1.0-draft
Last code update: 2026-01-19
0.1.0-draft · 2026-01-19
  • Initial audit spec draft generated from HTML extraction (review required).
  • Verify formulas match the calculator engine and convert any text-only formulas to LaTeX.
  • Confirm sources are authoritative and relevant to the calculator methodology.
Verified by Ugo Candido on 2026-01-19
Profile · LinkedIn

Need more help?

Explore more tools in the Loans & Debt hub or run a full payoff plan with the Loan Payoff Calculator.

Debt Consolidation Calculator

Compare the cost of staying with your current debts versus combining them into one consolidation loan. See new payments, interest savings, and payoff timelines before you apply.

Author: Ugo Candido Reviewed by: Finance Content Editor Last updated: Category: Finance → Loans & Debt

Currency

Your current debts

Add each debt you plan to consolidate with its balance, APR, and monthly payment.

Consolidation loan

Fee handling

Financing the fee increases the new loan balance and interest. Paying upfront keeps the balance lower.

Results

Current monthly payments $0.00
Consolidation payment $0.00
Monthly cash flow change $0.00
Interest (keep current plan) $0.00
Interest (consolidation) $0.00
Interest savings $0.00
Debt-free with current plan 0 months
Debt-free with consolidation 0 months
Total principal consolidated $0.00
Ready to calculate

Data Source and Methodology

The calculator uses the standard amortization identity referenced by the Consumer Financial Protection Bureau (CFPB) and Truth in Lending (Regulation Z) Appendix J. Each debt is amortized separately using your specified payment; the consolidation loan uses the APR and term you enter. Origination fees can be financed (added to the new loan amount) or paid upfront.

Formulas Used

Monthly rate: \( r = \dfrac{\text{APR}}{12 \times 100} \)

Months to pay a debt: \( n = \dfrac{-\ln\left(1 - \dfrac{rB}{P}\right)}{\ln(1+r)} \) if \( r > 0 \); otherwise \( n = \dfrac{B}{P} \)

Interest paid on a debt: \( I = n \cdot P - B \)

Consolidation payment: \( P_c = \dfrac{L r_c}{1 - (1 + r_c)^{-N}} \) (or \( L/N \) if \( r_c = 0 \))

Tips before consolidating

  • Verify that the new APR and term truly lower total interest, not just monthly payments.
  • Look out for origination fees or prepayment penalties on existing debts.
  • Consider continuing to pay extra principal even if the new payment is lower to accelerate payoff.
Audit: Complete
Formula (LaTeX) + variables + units
This section shows the formulas used by the calculator engine, plus variable definitions and units.
Formula (extracted LaTeX)
\[','\\]
','\
Formula (extracted text)
Monthly rate: \( r = \dfrac{\text{APR}}{12 \times 100} \) Months to pay a debt: \( n = \dfrac{-\ln\left(1 - \dfrac{rB}{P}\right)}{\ln(1+r)} \) if \( r > 0 \); otherwise \( n = \dfrac{B}{P} \) Interest paid on a debt: \( I = n \cdot P - B \) Consolidation payment: \( P_c = \dfrac{L r_c}{1 - (1 + r_c)^{-N}} \) (or \( L/N \) if \( r_c = 0 \))
Variables and units
  • P = principal (loan amount) (currency)
  • r = periodic interest rate (annual rate ÷ payments per year) (1)
  • n = total number of payments (years × payments per year) (count)
  • M = periodic payment for principal + interest (currency)
  • E = extra principal payment per period (currency)
Sources (authoritative):
Changelog
Version: 0.1.0-draft
Last code update: 2026-01-19
0.1.0-draft · 2026-01-19
  • Initial audit spec draft generated from HTML extraction (review required).
  • Verify formulas match the calculator engine and convert any text-only formulas to LaTeX.
  • Confirm sources are authoritative and relevant to the calculator methodology.
Verified by Ugo Candido on 2026-01-19
Profile · LinkedIn

Need more help?

Explore more tools in the Loans & Debt hub or run a full payoff plan with the Loan Payoff Calculator.

Debt Consolidation Calculator

Compare the cost of staying with your current debts versus combining them into one consolidation loan. See new payments, interest savings, and payoff timelines before you apply.

Author: Ugo Candido Reviewed by: Finance Content Editor Last updated: Category: Finance → Loans & Debt

Currency

Your current debts

Add each debt you plan to consolidate with its balance, APR, and monthly payment.

Consolidation loan

Fee handling

Financing the fee increases the new loan balance and interest. Paying upfront keeps the balance lower.

Results

Current monthly payments $0.00
Consolidation payment $0.00
Monthly cash flow change $0.00
Interest (keep current plan) $0.00
Interest (consolidation) $0.00
Interest savings $0.00
Debt-free with current plan 0 months
Debt-free with consolidation 0 months
Total principal consolidated $0.00
Ready to calculate

Data Source and Methodology

The calculator uses the standard amortization identity referenced by the Consumer Financial Protection Bureau (CFPB) and Truth in Lending (Regulation Z) Appendix J. Each debt is amortized separately using your specified payment; the consolidation loan uses the APR and term you enter. Origination fees can be financed (added to the new loan amount) or paid upfront.

Formulas Used

Monthly rate: \( r = \dfrac{\text{APR}}{12 \times 100} \)

Months to pay a debt: \( n = \dfrac{-\ln\left(1 - \dfrac{rB}{P}\right)}{\ln(1+r)} \) if \( r > 0 \); otherwise \( n = \dfrac{B}{P} \)

Interest paid on a debt: \( I = n \cdot P - B \)

Consolidation payment: \( P_c = \dfrac{L r_c}{1 - (1 + r_c)^{-N}} \) (or \( L/N \) if \( r_c = 0 \))

Tips before consolidating

  • Verify that the new APR and term truly lower total interest, not just monthly payments.
  • Look out for origination fees or prepayment penalties on existing debts.
  • Consider continuing to pay extra principal even if the new payment is lower to accelerate payoff.
Audit: Complete
Formula (LaTeX) + variables + units
This section shows the formulas used by the calculator engine, plus variable definitions and units.
Formula (extracted LaTeX)
\[','\\]
','\
Formula (extracted text)
Monthly rate: \( r = \dfrac{\text{APR}}{12 \times 100} \) Months to pay a debt: \( n = \dfrac{-\ln\left(1 - \dfrac{rB}{P}\right)}{\ln(1+r)} \) if \( r > 0 \); otherwise \( n = \dfrac{B}{P} \) Interest paid on a debt: \( I = n \cdot P - B \) Consolidation payment: \( P_c = \dfrac{L r_c}{1 - (1 + r_c)^{-N}} \) (or \( L/N \) if \( r_c = 0 \))
Variables and units
  • P = principal (loan amount) (currency)
  • r = periodic interest rate (annual rate ÷ payments per year) (1)
  • n = total number of payments (years × payments per year) (count)
  • M = periodic payment for principal + interest (currency)
  • E = extra principal payment per period (currency)
Sources (authoritative):
Changelog
Version: 0.1.0-draft
Last code update: 2026-01-19
0.1.0-draft · 2026-01-19
  • Initial audit spec draft generated from HTML extraction (review required).
  • Verify formulas match the calculator engine and convert any text-only formulas to LaTeX.
  • Confirm sources are authoritative and relevant to the calculator methodology.
Verified by Ugo Candido on 2026-01-19
Profile · LinkedIn

Need more help?

Explore more tools in the Loans & Debt hub or run a full payoff plan with the Loan Payoff Calculator.

Formulas

(Formulas preserved from original page content, if present.)

Version 0.1.0-draft
Citations

Add authoritative sources relevant to this calculator (standards bodies, manuals, official docs).

Changelog
  • 0.1.0-draft — 2026-01-19: Initial draft (review required).