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Display Only Version

The following Debt Consolidation Calculator V1 is a Display Only Version for the purpose of showing you the inputs, outputs and layout of the calculator.

To access a working copy of the Debt Consolidation Calculator V1, or any of our other 140 commercial website calculators, please visit our Commercial Calculator Center.

This calculator will help your website's users to answer the question ... Will consolidating my debts into one loan reduce my monthly payments and/or save me money?

Debt Consolidation Calculator V1
When the typical debt-consolidation company advertises that they can "save you money," what they are most often referring to is simply a reduction in your total monthly debt payments -- not a savings in the cost of paying off your debt (interest charges). Sure, by consolidating your payments into a single loan, you might be paying one monthly payment that is smaller than the sum of your current monthly payments, but if they stretch your loan out for a longer period of time you could actually end up paying more interest by consolidating. This calculator will help you to determine whether or not consolidating will actually reduce the cost of retiring your debts.
	Entry Columns				Calculated Columns
#	Payment Description	Principal Balance	Interest Rate	Payment Amount	Interest Cost	# of Pmts Left
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	Totals

Consolidation Loan Terms
Enter the Consolidating Loan's Annual Interest Rate (APR):
Enter the Consolidating Loan's term (number of years):
Enter total of any Consolidation Loan Fees:

Results				Without Consol- idating	With Consol- idating	Difference
Total of Monthly Payment(s):
Months until debts are paid off:
Total Cost (Interest Charges and Loan Fees):
Summary

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Contact: Dan Peterson
P.O. Box 11
Bemidji, MN 56619
(218) 243-2263