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Consolidation loans are sold as the cure for debt chaos, and they genuinely help when the problem is interest — but they also quietly stretch your repayments and turn a 3-year disaster into a 7-year sentence if you pick the wrong term. This calculator blends your current debts into one weighted rate, compares it against the offered loan, and shows the real trade: lower payment per month versus total interest over the life of the loan.
consolidate or not math
Applying causes a small, temporary dip; the bigger risk is running the cards back up and ending with more debt than before.
If your rates are high and your discipline is strong, avalanche (paying the highest rate first) often beats consolidation with no new loan needed.
It should be meaningfully below your current weighted rate after fees — if it is only 1-2% lower, the term extension may cancel the benefit.
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