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When debts pile up, it’s easy to feel helpless. But there’s one strategy that might save you money and hasten your return to financial recovery. It’s called debt consolidation, which means merging your installment loans and credit card debt into one new loan. For this to be a good option, your new loan should reduce your overall interest costs and shorten your repayment timeline. Go ahead and plug current loan rates, balances and other data into this calculator to find out whether debt consolidation might be a helpful strategy for you.
The online calculator is provided for illustrative purposes only, and the information obtained by using the online calculator is not, and should not be taken as, legal or financial advice to any person or company. Results may vary depending on the accuracy and comprehensiveness of the information you provide while using the online calculator. The online calculator is not substitute for consulting a qualified professional. Coastal Federal Credit Union accepts no liability for any losses or liabilities allegedly arising from the use of the online calculator by any person or company.
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