Does Debt Consolidation Save Money?
Compare rates, fees, monthly payments, payoff time, and total repayment before consolidating debt.
One balance, two repayment paths
A blended current rate is an estimate. Multiple debts with different balances and minimum-payment rules can behave differently.
Build the current baseline
Add balances and use a balance-weighted rate when a detailed account-by-account model is unavailable.
Read the full new offer
Include origination charges, payoff fees, the new term, and whether fees are deducted from proceeds or added to principal.
Protect the result
Consolidation can fail if paid-off revolving accounts are used again. A repayment plan needs room in the monthly budget and a strategy for new spending.
Frequently asked questions
Is a lower interest rate enough?
Not always. Fees and a longer term can offset the lower rate.
Will consolidation improve credit?
The calculator does not predict credit scores. Effects depend on utilization, payment history, applications, and account changes.