Debt Consolidation Calculator helps you to determine how much you can save by consolidating debts into a single monthly payment. You can also calculate how long it'll take you to be debt free or how much you need to pay each month in order to clear your debts within a certain time frame.
What is debt consolidation?
Debt Consolidation is a way by which you can combine all your debt payments into one easy monthly installment. This can be done by enrolling in a consolidation program or taking out a debt consolidation loan (personal or home equity loan) to pay back the dues. The consolidation loan is then paid off through installments payable on a monthly basis.
How does the Debt Consolidation Calculator work?
Debt Consolidation Calculators work in 2 ways: