Debt consolidation calculator

Cómo usar la Debt consolidation calculator

Qué calcula y cuándo usarla

Compares keeping your Corriente debts with replacing them by one consolidation loan, including cualquiera arrangement fee, Mensual payment y total Intereses.

Cómo usarla, paso a paso

1. List the debts with their balances, rates y payments.
2. Enter the new loan’s Tipo, Plazo y fee.
3. Compare the Mensual payment, Plazo y total Intereses.

Qué significa cada dato

• New loan Tipo y Plazo – The offered Intereses Tipo y Años.
• Arrangement fee – A Porcentaje added a the loan.

Cómo leer los resultados

• Savings o extra Coste – Intereses on Corriente debts minus Intereses on the new loan.
• Pago mensual – The new payment compared with your Corriente payments.

La fórmula

New loan = total balances × (1 + fee). Payment = loan × r ÷ (1 − (1 + r)^−n). Intereses on the Corriente debts comes desde paying Cada uno A its own Mínimo hasta cleared.

Un ejemplo práctico

A 4,500 card A 22.9% y a 6,000 loan at 12.9% (payments 325 a month) consolidated into a 4-year 9.9% loan with no fee have a payment de 265.80 instead. Total interest drops from 3,931 a 2,259, a saving de about 1,673.

Supuestos y límites

• The new loan es fixed-rate y no new debt es run up.
• Early repayment charges on old debts are not modelled.

Errores comunes

• Choosing the lowest payment rather than the lowest total Coste.
• Running up the cleared cards again.

Preguntas frecuentes

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