Debt Consolidation Offer Worksheet: Fees, Payments and Total Cost
Use this page with an actual loan disclosure. Its job is to help you check what you receive, what you must pay and what remains uncertain. A smaller monthly payment can come from a longer term rather than a cheaper loan.
Copy these figures from the offer
| Field to record | Why it matters |
|---|---|
| Offer date and lender name | Keep the disclosure you actually reviewed. |
| Debt payoff amounts and date | A statement balance may differ from a dated payoff quote. |
| Contract principal | This is the balance the new loan starts with. |
| Origination fee in dollars and collection method | Is it withheld, paid separately or added to the loan? |
| Net amount sent to you or creditors | Check whether it fully pays the old debts. |
| Interest rate and APR | Use the disclosed labels; they can differ. |
| Payment amount, count and final payment | Use the whole schedule, not only the first payment. |
| Total of payments and other charges | Avoid omitting a fee or adding it twice. |
| Security, variable terms and prepayment rules | Identify collateral or conditions that change the comparison. |
Check a consolidation offer
Compare your current debts with a loan leaving the same net cash after origination fees. Use figures from your documents; the starting values are examples.
All amounts are USD. Enter a decimal point, up to two decimals, and no thousands separators or symbols. A contractual interest rate is not the APR that already includes fees.
This tool needs JavaScript. If the fields remain disabled, use the article’s worked example or reload the page.
No signup. These calculations run on this page and do not save or send your entries.
Do not count the same fee twice
The CFPB distinguishes the interest rate from APR: APR can include loan fees. For an existing-balance simulation, use the contract interest rate to model interest and represent a fee according to how it is actually paid. Do not use a fee-inclusive APR as the interest rate and then automatically add the same fee again.
| Fee method | Cash-flow check |
|---|---|
| Paid separately on a $10,000 loan | $10,000 proceeds; $300 fee paid separately; add the fee once to repayment costs. |
| Withheld from a $10,000 loan | $9,700 proceeds; you still need $300 to pay $10,000 of old debt. |
| Added to a loan that delivers $10,000 | If the contract adds exactly $300, principal is $10,300 and its interest schedule changes. Confirm the fee base in the contract. |
If a lender withholds 3% of the amount borrowed, requesting enough to net $10,000 takes more than borrowing $10,300. Before cent rounding, the equation is $10,000 ÷ 0.97 ≈ $10,309.28. Use the lender’s actual fee rounding and proceeds figure; different fee bases produce different amounts.
Write a comparable baseline
Keep a separate row for continuing to pay the existing debts. State each balance, rate, required payment and your total monthly budget. Compare that schedule with the new loan under a budget you can sustain. If you reduce the payment in the new scenario, make the changed payoff date visible.
Use this line in your notes: “Existing future payments: ____. New scheduled payments: ____. Fees paid outside the loan: ____. Other old debt left unpaid: ____. Monthly budget required: ____.” Do not call the difference savings until each blank has been resolved.
Questions to ask before accepting
- Is this a conditional estimate or a final offer, and does proceeding require a credit inquiry?
- Who pays the old creditors, when will payment arrive, and what must I do meanwhile?
- Are all charges already included in the schedule or must I pay some separately?
- What happens if I repay early, pay late or lose an optional discount?
- Is any property securing the loan, and what could happen if I cannot pay?
Record the answer, the person or document that supplied it and its date. A verbal payment quote without a complete disclosure leaves the comparison unfinished.
After funding, confirm the result
Match each outgoing payment to the old account’s posted balance and check for remaining interest or charges. Keep paying required amounts until you have confirmed what is due. Removing a payment from your own spreadsheet does not close an account.
Set a budget rule for the cleared cards so that the loan does not sit alongside new revolving debt. This page does not forecast credit-score gains or a universal amount of savings.
For a worked amortization comparison, use the main consolidation guide. If the other offer is promotional, use the transfer-versus-loan worksheet. If required payments do not fit at all, start with CFPB credit-counseling information.
Sources and method
Educational content for U.S. consumers. Numerical examples are our own calculations under the stated assumptions. Methodology and limitations.