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Debt Consolidation Calculator

A fixed-rate loan may help lower your monthly payments or the interest you pay over time.
 

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With predictable monthly payments and rates, you can find peace of mind on your journey.

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Consolidate high-interest debts

Simplify your finances by consolidating debts into one monthly payment.3

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Learn how

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Same day credit decision for most customers who apply.

How to apply

How to apply

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Questions about debt consolidation loans

A personal loan for debt consolidation combines multiple debts into a single loan with a fixed interest rate and repayment term. You can consolidate debts from credit cards, mortgages, and other sources. Please note that college student loan debt is not eligible for this type of personal loan.

Consolidating your debt can be a smart move if you have multiple higher-interest debts. It could help you pay off your debt faster, lower your interest payments, and get down to one monthly payment. 3  You'll need to have a credit score that's high enough to qualify for a lower interest rate. Otherwise, a personal loan for debt consolidation may not be the right option for you.

Debt consolidation merges other qualifying debts you have into one loan. When you're approved for the new loan, those funds are used to pay off existing debts. Depending on the terms of your new loan, you could simplify your finances by making a lower monthly payment and paying off your debt sooner.

In some cases, debt consolidation loans can temporarily lower a borrower's credit score. But they can also have a positive impact on your credit score in the long term, if the loan is used responsibly and payments are made on time.

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Helpful resources

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To qualify for a customer relationship discount, you must have a qualifying Wells Fargo consumer checking account and make automatic payments from a Wells Fargo deposit account. To learn which accounts qualify for the discount, please consult with a Wells Fargo banker or consult our FAQs. If automatic payments are canceled, for any reason at any time, after account opening, the interest rate and the corresponding monthly payment may increase. Only one relationship discount may be applied per application.

The Annual Percentage Rate (APR) of Existing Debt(s) is calculated by taking a weighted average of the APRs and current balances that were entered on the previous page. This weighted average APR is used to calculate the values for the Estimated Interest to be Paid and Estimated Time to Pay Off Debt(s) with a new Wells Fargo personal loan shown on this page. Actual figures may vary based on the APRs and balances of existing debt(s) at the time of consolidation.

Before you apply, we encourage you to carefully consider whether consolidating your existing debt is the right choice for you. Consolidating multiple debts means you will have a single payment monthly, but it may not reduce or pay your debt off sooner. The payment reduction may come from a lower interest rate, a longer loan term, or a combination of both. By extending the loan term, you may pay more in interest over the life of the loan. By understanding how consolidating your debt benefits you, you will be in a better position to decide if it is the right option for you. New credit accounts are subject to application, credit qualification, and income verification.

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