See how a debt consolidation loan compares to your current payments. Enter your loan amount, interest rate, and desired term to calculate your new monthly payment and total cost.
$582
New Monthly Payment
$34,902
Total Paid on Loan
$9,902
Total Interest on Loan
$318
Est. Monthly Savings
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Get Matched →A debt consolidation loan combines multiple debts into a single loan with one monthly payment, ideally at a lower interest rate than your current debts. This simplifies repayment and can reduce the total interest you pay.
Most lenders prefer a credit score of 620 or higher, though the best rates typically require 700+. Some lenders work with borrowers with lower scores at higher interest rates.
It depends on your situation. Consolidation preserves your credit score and works best for those who can manage monthly payments. Settlement reduces total debt owed but impacts credit. Use our calculators to compare both scenarios.
Personal consolidation loans typically range from 24 to 84 months (2–7 years). Shorter terms mean higher payments but less interest. Longer terms lower your payment but increase total interest paid.