We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.Bad debt is not only a terrible mental strain, but it also prevents you from saving money and generating income off of your savings.This calculator will help you to determine whether or not consolidating will actually reduce the cost of retiring your debts.Starting with the first line of entry fields, enter each of your obligations, along with their corresponding principal balances, APR and monthly payment amounts (the last two columns are automatically filled in by the calculator).We cannot and do not guarantee their applicability or accuracy in regard to your individual circumstances.All examples are hypothetical and are for illustrative purposes.It will also tell you the overall interest rate, to compare with loans used to consolidate debts.
Learn more about our Privacy and Security policies.Enter the amount (in pounds) still outstanding for that debt, and the annual interest rate (APR) you are paying on that debt.When you've added the last debt, enter a repayment period into the box - this is the time that you would like to take to get debt free. Add all of your outstanding debts, with their interest rates, and the Debt Consolidation Calculator will show you how much you will have to repay each month to get debt free. The Debt Consolidation Calculator can help you see if consolidating your debts would help.Take charge of your finances with the CIBC Debt Consolidation Calculator.This debt calculator can help you create a debt repayment plan.You need to pay off bad debts as quickly as possible.This calculator will tell you how much you need to pay each month to pay off your debt by a certain time in the future.The Student Loan Consolidation and Debt Payoff calculator applies two simple principles to paying off your Debt; Consolidate your student loans, and use the monthly savings to pay off your other outstanding debt. However, a plan is still needed to get the debt paid in full.Debt consolidation allows people who are struggling with their finances to group their obligations into a single payment.By consolidating your many obligations into a single one, you can often lower your interest rate and end up with a lower monthly payment.This debt payoff calculator can show how to accelerate the debt payoff.