Debt Consolidation Calculator

Debt consolidation is worth it when the new loan's APR is significantly lower than your current average APR, you can afford the new monthly payment, and origination fees don't eat up the savings.

Credit card debt, personal loans, medical bills, and payday loans are commonly consolidated. Student loans and mortgages typically require separate, specialized consolidation programs.

A new loan application causes a small, temporary dip in your credit score. However, consolidation can improve your score over time by simplifying payments, reducing your credit utilization ratio, and helping you make on-time payments consistently.