Debt Consolidation Calculator

I do not recommend debt consolidation until you have addressed the spending habits and financial behaviors that created the debt in the first place.

Debt consolidation can lower your interest rate, simplify your payments, and potentially save you money. However, it does not eliminate your debt or solve the underlying problem.

If you consolidate your credit cards and then begin using them again without changing your financial habits, you could end up with a consolidation loan and additional credit card debt. This can leave you in an even worse financial position than where you started.

My recommendation is simple: Fix the behavior first. Then determine whether debt consolidation makes financial sense for your situation.