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Using a consolidation loan calculator

Consolidation loan calculator

Sometimes it is easier to consolidate all of your debts into one affordable monthly payment. There are a few sites that can offer a consolidation loan calculator, these calculators allow you to enter all the information on your debts and then work out exactly how much you need to borrow and the length of the loan.

Think-money.com

This site offers information on consolidation loans as well as other debt relief methods. The consolidation loan calculator is a slide ruler and allows users to not only adjust the loan amount and the length of the loan but the interest rate as well, thus allowing users to personalise every aspect of the loan application.

The site doesn’t offer the loans itself, instead it passes the details to authorised partners and those who can offer assistance will then contact the applicants themselves and try to offer assistance.

Money-Supermarket.com

Money supermarket doesn’t employ the slider, instead it requires applicants to enter all of their debt information onto the page, and then it tries to find a lender that can help.

You do need to have a fair idea of what you owe to get the most accurate feedback from this site. Once you have entered all of your information, it also reveals the loan companies that have the best track record of helping people out in various situations, as well as those designed for your specific needs.

Money supermarket returns results for people with good, fair, and poor credit ratings although some of the results returned did not seem to relate to the information that I had entered into the search.

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