Debt consolidation calculator

Come usare il Debt consolidation calculator

Cosa calcola e quando usarlo

Compares keeping your Corrente debts with replacing them by one consolidation loan, including qualsiasi arrangement fee, Mensile payment e Totale Interessi.

Come si usa, passo dopo passo

1. List the debts with their balances, rates e payments.
2. Enter the new loan’s Tasso, Durata e fee.
3. Compare the Mensile payment, Durata e Totale Interessi.

Cosa significa ogni dato

• New loan Tasso e Durata – The offered Interessi Tasso e Anni.
• Arrangement fee – A Percentuale added a the loan.

Come leggere i risultati

• Savings o extra Costo – Interessi on Corrente debts minus Interessi on the new loan.
• Pagamento mensile – The new payment compared with your Corrente payments.

La formula

New loan = Totale balances × (1 + fee). Payment = loan × r ÷ (1 − (1 + r)^−n). Interessi on the Corrente debts comes dalle paying Ciascuno A its own Minimo fino al cleared.

Un esempio pratico

A 4,500 card A 22.9% e 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 di 265.80 instead. Total interest drops from 3,931 a 2,259, a saving di about 1,673.

Ipotesi e limiti

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

Errori comuni

• Choosing the lowest payment rather than the lowest Totale Costo.
• Running up the cleared cards again.

Domande frequenti

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