Roll several balances into one loan and see the new payment and interest.
A debt consolidation calculator compares your current debts with a single consolidation loan, showing the new payment and how total interest changes when you roll balances into one loan.
Rolling several high-rate balances into one lower-rate loan can cut the interest you pay and simplify life to a single payment. The saving is real when the new rate is meaningfully below your current average and you don't stretch the term so far that lower rate is offset by more months of interest.
Consolidation can backfire two ways: a longer term can raise total interest even at a lower rate, and freeing up your cards invites running them back up, leaving you deeper in debt. It treats the symptom, not the habit, the calculator shows the payment and interest math, but the discipline to stop adding new debt is what makes it work.
It can, if the new rate is well below your current average and you don't extend the term too far. The calculator shows the interest difference.
Often yes, through a lower rate or longer term, but a longer term can raise total interest even as the payment falls.
Stretching the term can increase total interest, and paying off cards can tempt new spending. Consolidation works only if you stop adding debt.
See the exact formula and a worked example on our methodology page.