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If the new page layout is not working for you, please Contact Me and let me know what device, operating system, and web browser (with version numbers) you are using so I can attempt to get the layout working for your setup.

About the Redesign

If you visited this site prior to September 15th, 2018, you've no doubt noticed that I've since launched a complete redesign of the website.

If you're not happy with the new design, I sincerely apologize. I would have preferred to keep the old desktop design, but considering the majority of my site's users are now accessing the site from small-screen, touch-enabled, mobile devices, and considering Google is now penalizing websites for not being mobile/thumb friendly, I was left with no choice but to switch to a responsive, mobile-first design.

The good news is that now that I have combined the three separate versions of the site (mobile, desktop, and ad-free member) into a single design, this will free up a ton of my time for working to make the mobile-optimized calculators more desktop/laptop friendly. In fact, some of the redesigned calculators already offer a desktop-optimized form that becomes visible when you increase the width setting of the calculator (within the "Calculator Preferences" expandable panel).

Thank you in advance for your help and patience as I work to improve the redesign.

-Dan

Calculator Preferences

Consolidate Debt Calculator

This calculator will calculate the net effects of paying off all of your debts by taking out a debt consolidation loan. Contrary to what lenders may tell you, just because your monthly payment might be smaller, does NOT mean you will actually save money. Results include a side-by-side comparison of the payment amount, number of months, and interest cost -- with and without consolidating. The Aware tab includes the lesser known cons of consolidating your debts.

Learn More

Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Enter Debts

Enter Debts:

Note that depending on the width of the calculator, you will see either a vertical entry form optimized for mobile devices (narrow widths) or a horizontal entry form optimized for desktop devices (widths wide enough to accommodate rows and columns of entry fields).

To add a debt, enter the name, balance, interest rate, and payment amount. When you're satisfied with the entries, tap the + button (may also appear as "Add" or "Add Debt" depending on the width of your device).

To edit a debt in the list, tap the radio button in the Edit column. This will load the debt into the form for editing. When you're satisfied with the changes you've made, tap the S button (may also appear as "Save" or "Save Changes" depending on the width of your device).

To delete a debt from the list, tap the radio button in the Edit column. This will load the debt into the form for deleting. Tap the button (may also appear as "Delete" depending on the width of your device).

To clear the form to create a new debt entry, tap the C button (may also appear as "Clr" or "Clear" depending on the width of your device).

To add a debt to your consolidation plan, click the Add Debt Row button. Then complete the row of entries for the debt you are adding.

To remove a debt from your consolidation plan, click the X button in the left-hand column of the row you wish to remove.

Important! The entered debts are saved in your device's random memory (temporary storage), which means that if you surf to another calculator or close this browser window you will need to re-enter your debts.

X
Creditor
Name

Creditor name:

Enter the name of the creditor as you want it to appear on the printed report.


Principal
Balance ($)

Principal balance:

Enter the principal balance of the debt, without any dollar sign or commas. Note that this is not equal to the number of payments left times the payment amount -- because that would include interest charges you don't yet owe. What you want to enter here is how much cash it would take to pay off the debt today (call your creditor if you're not sure).


Interest
Rate (%)

Annual interest rate:

Enter the annual interest rate of the debt. Enter as a percentage without the percent sign (for .06 or 6%, enter 6). If this debt has more than one interest rate (1 for purchases and 1 for cash advances), enter the higher of the two. It's always best to use worse-case scenarios.


Payment
Amt ($)

Monthly principal and interest payment:

Enter the monthly payment for the debt, without the dollar sign or commas. If you are including your mortgage in the debt consolidation loan, be sure to only enter the principal and interest portion of your mortgage payment (leave out the portion for taxes and insurance).


Interest
Cost

Interest cost:

Based on your principal, interest rate and payment amount entries, this is how much interest you will pay on this debt between now and when you make the final payment. If the field displays an ERROR, it means that at the terms you entered the debt will never be paid off. Therefore, in order to enter the debt you will need to increase the payment amount until the error goes away.


# Pmts
Left

Number of payments remaining:

Based on your principal, interest rate and payment amount entries, this column calculates the number of monthly payments remaining on the debt. If the field displays an ERROR, it means that at the terms you entered the debt will never be paid off. Therefore, in order to enter the debt you will need to increase the payment amount until the error goes away.

Totals: 
Creditor:Creditor name:Creditor name:Creditor name:

Creditor name:

Enter the name of the creditor as you want it to appear on the printed report.

Payoff amt:Payoff amount:Principal balance:Principal balance (payoff amount):

Principal balance:

Enter the principal balance of the debt, without any dollar sign or commas. Note that this is not equal to the number of payments left times the payment amount -- because that would include interest charges you don't yet owe. What you want to enter here is how much cash it would take to pay off the debt today (call your creditor if you're not sure).

Rate:Interest rate:Annual interest rate:Annual interest rate:

Annual interest rate:

Enter the annual interest rate of the debt. Enter as a percentage without the percent sign (for .06 or 6%, enter 6). If this debt has more than one interest rate (1 for purchases and 1 for cash advances), enter the higher of the two. It's always best to use worse-case scenarios.

Pmt/month:Monthly pmt:Monthly P&I payment:Monthly principal and interest payment:

Monthly principal and interest payment:

Enter the monthly payment for the debt, without the dollar sign or commas. If you are including your mortgage in the debt consolidation loan, be sure to only enter the principal and interest portion of your mortgage payment (leave out the portion for taxes and insurance).

Interest:Interest cost:Interest cost:Interest cost:

Interest cost:

Based on your principal, interest rate and payment amount entries, this is how much interest you will pay on this debt between now and when you make the final payment. If the field displays an ERROR, it means that at the terms you entered the debt will never be paid off. Therefore, in order to enter the debt you will need to increase the payment amount until the error goes away.

Pmts left:Payments left:Number of payments left:Number of payments remaining:

Number of payments remaining:

Based on your principal, interest rate and payment amount entries, this column calculates the number of monthly payments remaining on the debt. If the field displays an ERROR, it means that at the terms you entered the debt will never be paid off. Therefore, in order to enter the debt you will need to increase the payment amount until the error goes away.

Consolidation Loan Terms

Consolidation Loan Terms:

After entering all of your debts, enter the consolidation loan terms into this section, and then click the "Calculate Consolidation" button.

Loan rate:Consolidation rate:Consolidating loan's interest rate:Consolidating loan's annual interest rate:

Consolidating loan's annual interest rate:

Enter the annual interest rate of the debt consolidation loan. Enter as a percentage without the percent sign (for .06 or 6%, enter 6).

Loan years:Consolidation years:Consolidating loan's term in years:Consolidating loan's term in number of years:

Consolidating loan's term:

Enter the term of the debt consolidation loan in number of years.

Loan fees:Consolidation fees:Consolidating loan fees:Total of any consolidation loan fees:

Total of any consolidation loan fees:

Enter any fees or costs associated to the debt consolidation loan (closing costs, origination fees, etc.). Enter as a dollar amount, but without the dollar sign and any commas.

Comparison Results
Com-
pare
CompareComparisonComparison
Without
Consol-
idating
Without
Consol-
idating
Without
Consol-
idating
Without
Consolidating
With
Consol-
idating
With
Consol-
idating
With
Consol-
idating
With
Consolidating
Diff +/-Diff +/-Diff +/-Diff +/-
Pmt:Pmt:Payment:Monthly Payment:

Monthly payment row:

Total of monthly payments Without consolidation and With consolidation. A plus (+) sign in the Diff +/- column indicates the consolidation loan payment is greater than the total of your current payments. A minus (-) sign indicates the consolidation loan payment is less than the total of your current payments.

Pmts:Pmts:# payments:# of payments:

Months until debts are paid off:

The number of months until debts are paid off Without consolidation and With consolidation. A plus (+) sign in the Diff +/- column indicates the consolidation payoff term is greater than the current payoff term. A minus (-) sign indicates the consolidation payoff term is less than the current payoff term.

Cost:Cost:Total cost:Total cost:

Total cost row:

Total of cost (interest and loan fees) Without consolidation and With consolidation. A plus (+) sign in the Diff +/- column indicates the consolidation loan will cost you more than your current payoff interest charges. A minus (-) sign indicates the consolidation loan will cost you less than your current payoff interest charges.

If you would like to save the current entries to the secure database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

Feedback AppreciatedFeedback Greatly AppreciatedYour Feedback Would Be Greatly AppreciatedYour Feedback Is Greatly Appreciated
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Tip

Help and Tools

Help and Tools:

This section, which you can Unstick or Hide in the Calculator Preferences (just above the top of the calculator), contains the following tabs (content too long to fit within bordered frame can be scrolled up and down):

About: Click this tab for an introduction to the calculator.

Instructions: Click this tab for step-by-step instructions for using the calculator.

Terms: Click this tab for a list of the descriptions that are located within each popup help button (info icons).

PCalc: Click this tab for a handy "pocket" calculator you can use when you need to calculate an entry needed for the calculator.

Data: Click this tab to save a set of entries or a note in between visits. Entries and notes will be stored to your web browser's local storage (if supported by your browser of choice), meaning they can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save entries and notes between devices you can do so by subscribing to the Ad-Free Member Version.

 

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