Debt Consolidation Calculator
Compare keeping your debts with a consolidation loan, including fees and the time to repay. A smaller monthly payment is not automatically a cheaper loan.
Verify this calculatorVerified
See what the result uses—and what it cannot know.
Sumvoro calculates deterministically from the visible inputs. It does not invent lender terms, local rules, market values, medical facts, or professional judgments.
- 1 · InputsCheck every entered value against the latest statement, quote, measurement, or official source.
- 2 · Formula
New payment uses principal × r ÷ (1 − (1 + r)^−n). Financed fees increase principal; upfront fees increase cash cost. Compare remaining payments plus fees for both options, counting each fee once. - 3 · SensitivityUse Insights to run a lower and higher case. If the conclusion changes easily, collect better information or leave more margin.
- 4 · ScopeThis tool is maintained and covered by automated calculation tests. Provider timing, rounding, and omitted facts can still change a real-world result.
- Formula release
- 2026.10-r4
- Release date
- October 10, 2026
- Review status
- Verified
- Source review
- October 14, 2026
Debt Consolidation calculator
Consolidation helps only when the new total repayment and fees are lower than the remaining cost of the debts it replaces. A smaller payment can cost more if the term is longer.
- Use current balances, not original balances.
- Include origination and payoff fees.
- Compare total repayment and payoff date.
Optional readingLearn how this calculator works
How the debt consolidation calculator works
Compare keeping your debts with a consolidation loan, including fees and the time to repay. A smaller monthly payment is not automatically a cheaper loan.
New payment uses principal × r ÷ (1 − (1 + r)^−n). Financed fees increase principal; upfront fees increase cash cost. Compare remaining payments plus fees for both options, counting each fee once.
Read our calculation methodology and limitations.
Test whether consolidation removes cost or only moves it
A new loan can simplify payments, but the comparison must include fees, term length, and the balances that remain.
Use payoff figures
Current statement balances may omit accrued interest or payoff charges. Use lender payoff amounts when available.
Keep the horizon consistent
Compare both strategies over the same period. Extending repayment can create a lower payment but a higher lifetime cost.
Plan against re-borrowing
Consolidation does not reduce debt by itself. Pair it with a budget that prevents new revolving balances from replacing the old ones.
Example
If $15,000 of debts are replaced by a $15,450 loan because a $450 fee is financed, interest is charged on $15,450. Do not also add that $450 as an upfront payment. The worked comparison below shows payment, remaining interest and payoff time together.
Does a lower consolidation payment also lower total repayment?
- Current balance
- $15,000
- Current annual rate
- 24%
- Current monthly payment
- $600
- New annual rate
- 12%
- New term
- 36 months
- Fee added to new principal
- $450
- New scheduled payment
- $513.16
- Current modeled remaining repayment
- $21,001.69
- New modeled total repayment
- $18,473.80
- Modeled difference in total repayment
- $2,527.89
The current path assumes a constant rate, no new charges, and continued $600 payments. The fee is financed once in the new loan. Actual revolving-credit payment rules and lender fees can differ.
What affects the result
- Use today’s remaining balances and future payments, not amounts already paid.
- Extending repayment can reduce payment while increasing total cost.
- New borrowing after consolidation changes the result; the projection assumes no new charges.
Helpful guides
Frequently asked questions
Where does an origination fee go?
If added to the loan, it belongs in financed principal. If paid separately, it is an upfront cost. If withheld from proceeds, check that the remaining cash is enough to settle the debts.
Why can a lower rate still cost more?
A sufficiently longer repayment period or substantial fees can outweigh a lower rate. Compare total repayment and the payoff date, not just APR.
Is debt consolidation the same as debt settlement?
No. This tool models replacing debts with another loan, not negotiating forgiven balances or a settlement program.