Should I consolidate my loans?

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TimeValue Software
22 Mauchly
Irvine, CA 92618
(949) 727 - 1800
FAX (949) 727 - 3268

info@timevalue.com

TCalc™ Financial Calculators

Should I consolidate my loans?

This calculator determines the advantage or disadvantage of consolidating various loans and credit card debt. Click the "Add" button to enter up to 10 different loans and accounts.

Loans

	Account		Remaining Amount		Payment		Remaining Term
							MonthsYears

Credit Cards

	Account		Remaining Amount		Rate

Consolidated Loan
	Loan type
	Interest rate
	Loan term	MonthsYears
	Fees	%$
	Points
	Savings rate
	Tax rate

If you were to consolidate your loans it would cost you $1,970.46.

Financial Details

	Current	Consolidated	Difference
Total debt	$25,000.00	$25,000.00	$0.00
Monthly Payments	$548.41	$283.87	$264.54
Equivalent rate	7.628 %	6.500 %	1.128 %
Total interest	$4,809.20	$9,064.38	($4,255.18)

Total payments	$29,809.20	$34,064.38	($4,255.18)
Points and Fees	$0.00	$1,750.00	($1,750.00)
Tax savings	$0.00	$2,321.80	($2,321.80)

Total cost	$28,093.27	$30,063.73	($1,970.46)

Calculator tips

This calculator uses "exact days" compounding to approximate how much your credit card payments are. Your credit card company may compute a different payment amount based on their own computational method.

The "Equivalent rate" is not necessarily the same as an APR. It does not include the effects of points and fees. The "Equivalent rate" is the combined interest rate of one or more loans (points and fees excluded).

Calculator disclaimer

The information provided by these calculators is for illustrative purposes only. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results. The calculated results are intended for illustrative purposes only and accuracy is not guaranteed.

Debt Consolidation Calculator

TimeValue Software offers the best debt consolidation calculator available online. Register this calculator for use on your website to provide loan and credit card consolidation calculations. Our online calculators integrate right into your existing website automatically. Customize your calculators with the style and look of your site while promoting your own products and services. Add a contact form, and use the calculators as an online lead generator.

Interested in adding financial calculators to your website?

Or give us a call at (800) 426 - 4741. We will show you how calculators are being used in a website for a business similar to yours.

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