Loan Consolidation
"; } if ( IEMAC ) { return "
"; } return "
"; } function openNote() { var agt=navigator.userAgent.toLowerCase(); var is_aol = (agt.indexOf("aol") != -1); leftpos=0; if (screen) { leftpos=screen.width/2 - 300; } if (is_aol) { var s = " "; s=document.calculator.sJavaScriptReport('HTML'); document.write(s); } else { var OpenWindow=window.open("","newwin","toolbar=yes,menubar=yes,location=no,directories=no,status=no,scrollbars=yes,resizable=yes,copyhistory=no,width=600,height="+(screen.height-100)+",left="+leftpos+",top=5"); var s = " "; s=document.calculator.sJavaScriptReport('HTML'); OpenWindow.document.write(s); OpenWindow.document.close(); OpenWindow.focus(); } } http://www.dinkytown.net -->
Should you consolidate your debt? This calculator is designed to help determine whether debt consolidation is right for you. Enter your credit cards, auto loans and other installment loans balances by clicking on the "Enter Data" button for each category. Then change the consolidated loan amount, term or rate to create a loan that will work within your budget. Click the "View Report" button for detailed results.
Personal Debt Consolidation Debt Consolidation Your consolidated payment is NEW_LOAN_PAYMENT, which is MONTHLY_PAYMENT_SAVINGS per month.**GRAPH**
With a new consolidated loan of NEW_LOAN_BALANCE your monthly payment is NEW_LOAN_PAYMENT. This is MONTHLY_PAYMENT_SAVINGS than your currently monthly payment of MONTHLY_PAYMENT. The total interest payment for the new consolidated loan would be INTEREST_NEW. With the new consolidated loan you pay MSG_NEW_INTEREST_SAVINGS in interest.
Consolidation Loan Loan amount NEW_LOAN_BALANCE Monthly payment NEW_LOAN_PAYMENT Interest rate NEW_LOAN_RATE Term NEW_PAYOFF Total interest INTEREST_NEW Current Loans and Credit Cards
The total of all current loan payments is MONTHLY_PAYMENT. This is based on the loans and payment information shown below.
Current Loans   Amount OwedMonthly PaymentInterest Rate Credit cardsCC_OUTSTANDING_BALANCECC_MONTHLY_PAYMENTCC_AVERAGE_RATE Auto loansAUTO_OUTSTANDING_BALANCEAUTO_MONTHLY_PAYMENTAUTO_AVERAGE_RATE Other loansOTHER_OUTSTANDING_BALANCEOTHER_MONTHLY_PAYMENTOTHER_AVERAGE_RATE TotalsOUTSTANDING_BALANCEMONTHLY_PAYMENTAVERAGE_RATE
New Loan Payment Schedule
**REPEATING GROUP**
"> This Financial Calculator requires SUN's Java™ Plug-in. If you see this message you will need to download SUN's Java™ Plug-in. This can be done automatically by clicking the yellow bar at the top of your browser and choosing “Install ActiveX Control”.
-
You can also get SUN's Java™ Plug-in here: Get the Java™ Plug-in!
For more information about this Plug-in please visit: SUN's Java™ Plug-in
For more information these financial calculators please visit: Financial Calculators from KJE Computer Solutions, LLC
- Credit cards
- Enter your total credit card debt and its average interest rate, or press the "Enter Data" button to enter up to 10 credit card accounts, one on each line.
- Auto loans
- Click on the "Enter Data" button to input any auto loans you may have into the details page. This details page is designed to let you input your current monthly payment, the term (in months), the starting balance and the number of months you have left. It then calculates your outstanding balance and interest rate. You can enter up to three installment loans.
- Other loans
- Click on the "Enter Data" button to input any additional installment loans you may have into the details page. This details page is designed to let you input your current monthly payment, the term (in months), the starting balance and the number of months you have left. It then calculates your outstanding balance and interest rate. You can enter up to six installment loans.
- Balances
- Your total current balances for your credit cards, auto loans and other loans.
- Interest rates
- The average annual percentage rate you pay. This interest rate is calculated for each of the categories of debt you have including credit cards, auto loans and other installment loans. For credit cards the rate you enter is used to calculate the interest on all future credit card payments. The length of time to pay off this credit card may be much greater than calculated if you enter a low promotional interest rate that is only good for a short period of time.
- Payment
- This is your initial monthly payment. For credit cards, if you checked the "use credit card minimum payments" box, your monthly payment is calculated as 4% of your current outstanding balance. With the "use credit card minimum payments" box checked, your monthly payment will decrease as your balance is paid down. This can greatly increase the length of time it takes to pay off your credit cards. Uncheck this box to enter your own monthly payment that will remain the same until your balance is paid in full.
(We calculate your minimum monthly payment as 4% of your current outstanding balance. While your actual minimum monthly payment may be slightly different, this is one of the most common methods used by credit card companies to calculate minimum payments.)
Sponsored by
Financial Resources
Calculators:
Access to our Savings, Mortgage, Auto Loan and Personal Finance Tools.