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Debt Consolidation Calculator

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Debt Consolidation Calculator
Plug in your current debts to see how you can consolidate and estimate the savings you can make with a consolidation loan.


The last update was on Dec 9, 2022.

The majority or all of the items featured on this page come from our partners who compensate us. This influences which products we feature and the location and manner in which the product appears on the page. But, it doesn't affect our opinions. Our views are our own. Here's a list and .



The calculator below for debt consolidation will help you determine whether consolidation is the right choice for you. The calculator will help you determine the most effective method to consolidate your debt and estimate the savings from the debt consolidation loan.
You can also based upon your score on credit.
Debt consolidation calculator
How do I use the debt consolidation calculator
Step 1 Step 1: Enter the balances, rates of interest and monthly payments you currently pay towards your debts that are not secured like credit cards loans for personal use, loans or payday loans.
Do not include secured debts such as car loans or student loans here. There are other ways to manage those debts. (Learn the details about .)
Hit "I'm done" and review the calculator results using the numbers you entered:
A total balance is the sum of all your debts, or the amount you owe total.
Rate of interest combining A weighted average percentage of all of the loans you enter in the calculator.
Payment total monthly: This is how much you're paying monthly towards these debts, which includes interest.
The time you'll become debt-free The amount of time you'll need to be debt-free is based on your current balance as well as the monthly payment.

Step 2: Select your credit score range in order to discover your options for debt consolidation. Based on the size of your debt and your credit score, a or may be an appropriate choice.
If you're interested in consolidating a loan, use the sliders below the table to enter an estimated rate and the amount of repayment you'd like to pay (in the years) for the new loan.
Step 3: Take a look at the comparison between your existing debts and your new debt consolidation loan.
Debt consolidation is most likely to make sense when your total amount is lower than your current total amount, and you save money on interest.
Do you want to consolidate debt? See if you pre-qualify for a consolidation loan.
Simply answer a few questions to get personalized results of our loan partners.


Loan amount
on NerdWallet








What is debt consolidation?
consolidates your debts into one, ideally with a lower interest rate and a shorter time to payoff which saves you money and time until payoff. This can be accomplished using the use of a , but there are different ways to consolidate debt based on your specific situation.
Ways to consolidate debt
They are loans typically come from an online lender, bank or credit union offer a substantial amount of cash to pay off several debts, leaving you with only one monthly payment to your debt.
It is possible to transfer credit card debt onto the credit card which charges no interest for the duration of a promotional period, usually 15 to 21 months.
In the event that you have your own house and you own it, you might be eligible for a loan based on the equity in your house to help pay your other obligations, but you could lose your home if it isn't possible to make payments on time.
If you're a member of a retirement savings account or an employer-sponsored retirement account You could use some of that money to pay off your loans. The negatives are that you'll have less money to fund your retirement and if you don't pay back the loan you'll be liable for tax and penalties.
: This option combines several debts into a single monthly payment at lower interest rates than credit cards and loans, but it typically has monthly and startup fees, and it often takes three to five years to repay the credit.

>> MORE:
Which lender is right for me?
NerdWallet has reviewed more than 35 lenders to help find the right one for you. Below is a list lenders that have standout .
Individual loans from our partners
Debt Consolidation Big Purchase Emergency Home Improvement Medical

on LendingClub



LendingClub
5.0 NerdWallet's ratings are determined by our editorial staff. The scoring formula is based on factors we consider to be friendly to consumers, such as the impact on credit score, fees and rates as well as the customer's experience and ethical lending practices.



5.0 NerdWallet's ratings are determined by our editorial staff. The scoring formula is based on aspects we believe are friendly to consumers, such as the impact on credit score, rates and fees, customer experience and responsible lending practices.


APR 8.3-36.0%


The amount of the loan is $1,000.





on LendingClub





on Happy Money



Happy Money
4.5 NerdWallet's ratings are compiled by our editorial team. The scoring formula takes into account the factors we believe to be consumer-friendly, including impact to credit score, rates and fees as well as the customer's experience and ethical lending practices.



4.5 NerdWallet's ratings were determined by our editorial team. The scoring formula takes into account aspects we consider to be a good choice for consumers, such as impact on credit score, fees and rates customers' experience, and responsible lending practices.


APR 7.99-29.99%


The loan amount is $5,000 to $40,000





on Happy Money





on PenFed Credit Union



PenFed Credit Union
5.0 NerdWallet's rating is determined by our editorial team. The scoring formula takes into account the factors we believe to be beneficial to the consumer, such as impact on credit score, rates and fees customers' experience, and responsible lending practices.



5.0 NerdWallet's ratings are determined by our editorial staff. The scoring formula takes into account the factors we believe to be beneficial to consumers, including the impact on credit scores fees and rates customers' experience, and ethical lending practices.


APR 7.74-17.99%


The loan amount is $600-$50,000.





on PenFed Credit Union





On Upgrading



Upgrade
5.0 NerdWallet's ratings are determined by our editorial staff. The scoring algorithm takes into consideration aspects we consider to be beneficial to consumers, including the impact on credit score, fees and rates customers' experience, and responsible lending practices.



5.0 NerdWallet's ratings are compiled by our editorial staff. The scoring formula is based on the factors we believe to be consumer-friendly, including the impact on credit score rate and fees, customer experience and responsible lending practices.


APR 8.49-35.97%


Amount of loan: $1,000 - $50,000





On Upgrading





on Upstart



Upstart
4.5 NerdWallet's ratings are determined by our editorial team. The scoring formula considers aspects we consider to be consumer-friendly, including the impact on credit score rate and fees, the customer experience and ethical lending practices.



4.5 NerdWallet's ratings are compiled by our editorial team. The scoring formula takes into account aspects we consider to be beneficial to consumers, including the impact on credit score rates and fees, customer experience and responsible lending practices.


APR 6.5-35.99 percent


Loan amount $1,000 - $50,000





on Upstart





on LightStream



LightStream
5.0 NerdWallet's ratings are determined by our editorial staff. The scoring formula is based on the factors we believe to be consumer-friendly, including impact to credit score, fees and rates customers' experience, and responsible lending practices.



5.0 NerdWallet's ratings are compiled by our editorial team. The scoring formula is based on aspects we believe are consumer-friendly, including impact to credit score, rates and fees as well as the customer's experience and responsible lending practices.


APR Rates are based on AutoPay. 6.99-23.99%


Loan amount $5,000 - $100,000





on LightStream











on LightStream



LightStream
5.0 NerdWallet's rating is determined by our editorial staff. The scoring formula takes into account the factors we believe to be a good choice for consumers, such as the impact on credit score fees and rates, customer experience and ethical lending practices.



5.0 NerdWallet's ratings are compiled by our editorial team. The scoring algorithm takes into consideration factors we consider to be beneficial to consumers, including impact to credit score, fees and rates as well as the customer's experience and responsible lending practices.


APR Rates are based on AutoPay. 6.99-23.99%


The loan amount is $5,000 to $100,000.





on LightStream





on Axos



Axos
4.0 NerdWallet's ratings are compiled by the editorial staff. The scoring algorithm takes into consideration the factors we believe to be beneficial to the consumer, such as impact on credit score, fees and rates as well as the customer's experience and ethical lending practices.



4.0 NerdWallet's ratings are determined by our editorial team. The scoring algorithm takes into consideration aspects we consider to be beneficial to consumers, including impact to credit score, rates and fees, customer experience and responsible lending practices.


APR 7.99-14.99%


Loan amount $5,000 - $50,000





on Axos





on Upgrade



Upgrade
5.0 NerdWallet's ratings are determined by our editorial staff. The scoring formula is based on aspects we consider to be consumer-friendly, including the impact on credit score, fees and rates as well as the customer's experience and responsible lending practices.



5.0 NerdWallet's ratings are compiled by our editorial staff. The scoring formula takes into account factors we consider to be consumer-friendly, including impact to credit score, rates and fees customers' experience, and responsible lending practices.


APR 8.49-35.97%


Amount of loan: $1,000 - $50,000





On Upgrading





on SoFi



SoFi
5.0 NerdWallet's ratings are compiled by our editorial staff. The scoring formula is based on factors we consider to be a good choice for consumers, such as the impact on credit score, rates and fees as well as the customer's experience and responsible lending practices.



5.0 NerdWallet's ratings are compiled by our editorial team. The scoring formula is based on factors we consider to be beneficial to the consumer, such as impact on credit score, rates and fees customers' experience, and ethical lending practices.


APR 7.99-23.43%


Loan amount $5,000 - $100,000





on SoFi





on Best Egg



Best Egg
4.5 NerdWallet's ratings are determined by our editorial staff. The scoring formula takes into account the factors we believe to be beneficial to consumers, such as the impact on credit scores rates and fees, customer experience and responsible lending practices.



4.5 NerdWallet's ratings are compiled by our editorial team. The scoring algorithm takes into consideration the factors we believe to be consumer-friendly, including the impact on credit score, fees and rates, customer experience and ethical lending practices.


APR 8.99-35.99%


The amount of the loan is $2,000 to $50,000.





on the Best Egg





On Achieving



Attain
5.0 NerdWallet's ratings are determined by our editorial staff. The scoring formula takes into account factors we consider to be beneficial to consumers, including the impact on credit scores, rates and fees, customer service and ethical lending practices.



5.0 NerdWallet's rating is determined by our editorial staff. The scoring formula is based on aspects we believe are beneficial to the consumer, such as impact on credit score, rates and fees customers' experience, and responsible lending practices.


APR 7.99-29.99%


Amount of loan: $5,000 - $50,000





on Achieve











on OneMain Financial



OneMain Financial
4.0 NerdWallet's ratings are compiled by our editorial team. The scoring algorithm takes into consideration the factors we believe to be consumer-friendly, including impact to credit score, rates and fees as well as the customer's experience and ethical lending practices.



4.0 NerdWallet's ratings are compiled by our editorial team. The scoring formula is based on aspects we consider to be consumer-friendly, including the impact on credit score, fees and rates, customer experience and responsible lending practices.


APR 18.0-35.99 percent


Loan amount $1,500 - $20,000





on OneMain Financial





on Upstart



Upstart
4.5 NerdWallet's ratings are determined by our editorial team. The scoring formula considers aspects we consider to be consumer-friendly, including impact to credit score, rates and fees customers' experience, and ethical lending practices.



4.5 NerdWallet's ratings are compiled by our editorial team. The scoring formula considers the factors we believe to be beneficial to the consumer, including the impact on credit score, rates and fees as well as the customer's experience and ethical lending practices.


APR 6.5-35.99 percent


Loan amount $1,000 - $50,000





on Upstart





on the Best Egg



Best Egg
4.5 NerdWallet's ratings were determined by our editorial staff. The scoring formula takes into account aspects we believe are beneficial to the consumer, including the impact on credit score, fees and rates customers' experience, and responsible lending practices.



4.5 NerdWallet's ratings are compiled by our editorial staff. The scoring formula considers factors we consider to be a good choice for consumers, such as impact to credit score, rates and fees, the customer experience and ethical lending practices.


APR 8.99-35.99%


The amount of the loan is $2,000 to $50,000.





on Best Egg





on Discover



Discover
5.0 NerdWallet's ratings are compiled by our editorial staff. The scoring formula takes into account factors we consider to be beneficial to consumers, such as the impact on credit scores, rates and fees, customer service and ethical lending practices.



5.0 NerdWallet's ratings are determined by our editorial staff. The scoring algorithm takes into consideration the factors we believe to be beneficial to the consumer, including the impact on credit score, rates and fees as well as the customer's experience and ethical lending practices.


APR 6.99-24.99%


Loan amount $2,500 - $35,000





on Discover





on Achieving



Attain
5.0 NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account aspects we consider to be a good choice for consumers, such as the impact on credit score, fees and rates as well as the customer's experience and ethical lending practices.



5.0 NerdWallet's rating is determined by our editorial team. The scoring formula is based on factors we consider to be a good choice for consumers, such as the impact on credit score, fees and rates, customer experience and responsible lending practices.


APR 7.99-29.99%


Loan amount $5,000 - $50,000





On Achieving





on SoFi



SoFi
5.0 NerdWallet's rating is determined by our editorial team. The scoring algorithm takes into consideration the factors we believe to be beneficial to the consumer, such as impact on credit score, rates and fees as well as the customer's experience and ethical lending practices.



5.0 NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account factors we consider to be beneficial to consumers, including impact to credit score rate and fees, customer experience and ethical lending practices.


APR 7.99-23.43%


The loan amount is $5,000 to $100,000.





on SoFi











on Universal Credit



Universal Credit
4.5 NerdWallet's ratings are compiled by our editorial team. The scoring algorithm takes into consideration aspects we believe are consumer-friendly, including impact to credit score, rates and fees as well as the customer's experience and responsible lending practices.



4.5 NerdWallet's ratings are determined by our editorial staff. The scoring formula takes into account factors we consider to be friendly to consumers, such as the impact on credit score, fees and rates, customer experience and responsible lending practices.


APR 11.69-35.93%


The amount of the loan is $1,000.





on Universal Credit





on Discover



Discover
5.0 NerdWallet's ratings are determined by our editorial staff. The scoring formula takes into account factors we consider to be friendly to consumers, such as the impact on credit score, fees and rates customers' experience, and ethical lending practices.



5.0 NerdWallet's ratings are compiled by our editorial staff. The scoring formula is based on aspects we consider to be consumer-friendly, including impact to credit score, rates and fees customers' experience, and ethical lending practices.


APR 6.99-24.99%


Loan amount $2,500 - $35,000





on Discover





on Upstart



Upstart
4.5 NerdWallet's ratings were determined by our editorial staff. The scoring formula takes into account the factors we believe to be beneficial to consumers, including the impact on credit score, fees and rates as well as the customer's experience and ethical lending practices.



4.5 NerdWallet's ratings are compiled by our editorial team. The scoring formula takes into account the factors we believe to be a good choice for consumers, such as impact to credit score rate and fees customers' experience, and ethical lending practices.


APR 6.5-35.99 percent


Amount of loan: $1,000 - $50,000





on Upstart





on Achieve



Attain
5.0 NerdWallet's rating is determined by our editorial team. The scoring formula is based on factors we consider to be consumer-friendly, including impact to credit score, rates and fees as well as the customer's experience and ethical lending practices.



5.0 NerdWallet's ratings are compiled by our editorial staff. The scoring formula takes into account factors we consider to be friendly to consumers, such as the impact on credit score, rates and fees, customer experience and ethical lending practices.


APR 7.99-29.99%


The loan amount is $5,000 to $50,000.





On Achieving





on SoFi



SoFi
5.0 NerdWallet's ratings are determined by our editorial staff. The scoring formula takes into account factors we consider to be a good choice for consumers, such as the impact on credit score, rates and fees, customer experience and ethical lending practices.



5.0 NerdWallet's ratings are compiled by our editorial team. The scoring formula takes into account factors we consider to be beneficial to consumers, including impact to credit score rates and fees, the customer experience and responsible lending practices.


APR 7.99-23.43%


The loan amount is $5,000 to $100,000.





on SoFi





on Best Egg



Best Egg
4.5 NerdWallet's ratings were determined by our editorial team. The scoring formula takes into account factors we consider to be beneficial to consumers, such as impact to credit score fees and rates as well as the customer's experience and ethical lending practices.



4.5 NerdWallet's ratings were determined by our editorial team. The scoring algorithm takes into consideration factors we consider to be a good choice for consumers, such as the impact on credit score, rates and fees, customer experience and ethical lending practices.


APR 8.99-35.99%


Amount of loan $2,000 - $50,000





on Best Egg











on LightStream



LightStream
5.0 NerdWallet's rating is determined by our editorial staff. The scoring formula is based on factors we consider to be consumer-friendly, including the impact on credit scores, rates and fees, customer experience and responsible lending practices.



5.0 NerdWallet's rating is determined by our editorial staff. The scoring algorithm takes into consideration factors we consider to be beneficial to the consumer, including the impact on credit score, fees and rates as well as the customer's experience and responsible lending practices.


APR Rates mentioned are for AutoPay. 6.99-23.99%


Amount of loan: $5,000 - $100,000





on LightStream





on SoFi



SoFi
5.0 NerdWallet's rating is determined by our editorial team. The scoring algorithm takes into consideration the factors we believe to be beneficial to consumers, including the impact on credit scores rate and fees customers' experience, and responsible lending practices.



5.0 NerdWallet's rating is determined by our editorial team. The scoring formula takes into account factors we consider to be beneficial to consumers, including the impact on credit score rate and fees, the customer experience and ethical lending practices.


APR 7.99-23.43%


Loan amount $5,000 - $100,000





on SoFi





on Universal Credit



Universal Credit
4.5 NerdWallet's ratings were determined by our editorial team. The scoring formula considers factors we consider to be beneficial to the consumer, including impact on credit score, fees and rates, customer experience and responsible lending practices.



4.5 NerdWallet's ratings are compiled by our editorial staff. The scoring formula considers the factors we believe to be beneficial to consumers, including impact to credit score rates and fees, customer service and responsible lending practices.


APR 11.69-35.93%


Loan amount $1,000 - $50,000





on Universal Credit





on LendingClub



LendingClub
5.0 NerdWallet's rating is determined by our editorial team. The scoring algorithm takes into consideration aspects we believe are beneficial to the consumer, such as impact on credit score, fees and rates as well as the customer's experience and ethical lending practices.



5.0 NerdWallet's ratings are compiled by our editorial team. The scoring formula is based on the factors we believe to be consumer-friendly, including the impact on credit score rate and fees, the customer experience and ethical lending practices.


APR 8.3-36.0%


The amount of the loan is $1,000.





on LendingClub





on Upstart



Upstart
4.5 NerdWallet's ratings are compiled by our editorial team. The scoring algorithm takes into consideration factors we consider to be beneficial to consumers, including impact to credit score rate and fees, customer experience and responsible lending practices.



4.5 NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account the factors we believe to be friendly to consumers, such as the impact on credit score, rates and fees customers' experience, and ethical lending practices.


APR 6.5-35.99 percent


Loan amount $1,000 - $50,000





on Upstart


















Frequently requested questions. Can I consolidate all my debts into one payment?


You can consolidate all ones debt into one payment using an account transfer card, and a debt consolidating loan.
>> MORE:







Do debt consolidation loans hurt my credit score?


You may see a temporary dip in your credit score after applying for an debt consolidation loan because lenders require the pulling of a credit report. However, your credit scores should rebound if you make timely payments and don't rack up new credit.
>> MORE:







What is the typical interest rate on a debt consolidation loan?


Interest rates on mainstream debt consolidation loans generally vary between 6% and 36 percent. You need to have a strong credit score to be eligible for rates at the low end of that range.
>> MORE:







Can I use my credit cards after debt consolidation?


You can use your credit cards following debt consolidation, However, it's recommended to make use of them in moderation and make sure you pay off your all outstanding balances on time to avoid the cost of interest and build up additional debt.
>> MORE:









Do I have the option of consolidating all my debts into one lump sum?
You can consolidate all your debts into one payment using a balance transfer card as well as a loan for debt consolidation. loan. >> MORE:


Do debt consolidation loans hurt my credit score?
You might notice a temporary drop in your credit scores following applying for an debt consolidation loan as lenders require an official credit check. However, your credit scores should rebound if you make timely payments and don't rack into new debt. >> MORE:


What is the average rate of interest on a credit consolidation loan?
The rates of interest on conventional debt consolidation loans generally vary from 6% to 36%. You need to have a strong credit score to qualify for rates at the lowest end of the range. >> MORE:


Can I use my credit cards after debt consolidation?
You are able to use credit cards following debt consolidation; however, it's best to use them sparingly and make sure you pay off your the balance in full, to keep from paying interest and building into more debt. >> MORE:










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