Debt Consolidation Calculator
Compare your current debts against a consolidated loan. See if consolidation actually saves money, or if paying strategically is better.
Consolidation saves you
Save £1,907
Debt 1 (e.g., credit card)
Debt 2 (e.g., store card)
Debt 3 (e.g., personal loan)
Consolidation loan offer
Set any debt balance to £0 to remove it from the comparison. Default consolidation rate: 7.9% APR (typical unsecured personal loan rate — adjust to your local market).
Consolidation saves you
Save £1,907
Total debt: £10,000 across 3 debts
Current payments
£325/mo
Consolidated payment
£202/mo
Current total interest
£4,044
Consolidated interest
£2,137
Total cost comparison
Your debts breakdown
Debt 1
£5,000 at 18.9% · £150/mo
£2,146
total interest
Debt 2
£3,000 at 22.5% · £100/mo
£1,450
total interest
Debt 3
£2,000 at 15% · £75/mo
£448
total interest
Verdict: Consolidation saves money. You'll save £1,907 in total interest and £123/month in payments.
Alternative: pay off debts strategically
Snowball method
Pay smallest balance first. Quick wins build motivation.
Avalanche method
Pay highest rate first. Saves the most interest.
Free debt advice: If you're struggling with debt, contact StepChange (0800 138 1111) or National Debtline (0808 808 4000) — both are free, confidential, charity-run services.
This calculator provides estimates only. Actual rates and terms depend on your credit score and lender. Consolidation doesn't always save money — compare total cost, not just monthly payments. Consider whether the consolidation loan is secured (against your home) or unsecured.