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Debt Consolidation Loans: Compare New Cost vs. Current Debts

Compare debt-consolidation loans by weighted current APR, new APR/fees, monthly payment, payoff date, direct-to-creditor funding and total interest.

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✓Gap✓Cash flow✓Fallback

Check the actual providerConfirm who makes the credit decision.

Normalize the costCompare fees, APR, total due and dates.

Stress-test repaymentProtect essential cash after the payment.

Complete guide

Answers, tradeoffs and next steps

Use the sections below to evaluate fit, not to predict approval.

Consolidation has to beat the debts it replaces

CFPB warns that a lower monthly payment can simply mean a longer repayment period and potentially more total cost. Payday Hex compares the new loan against the current payoff path, including fees, rather than ranking by payment alone. CFPB_CONSOLIDATION

Direct payment to creditors can reduce execution risk

Current debt-consolidation comparison pages highlight lenders that can pay creditors directly. Payday Hex treats direct pay as a workflow feature, not a ranking shortcut, and still compares full loan cost. NW_DEBT

The weighted-average APR is only a starting point

A new APR below the weighted average is helpful, but origination fees and term can erase the apparent savings. The tool calculates total interest and total dollars under both paths.

The old balances must actually be closed or controlled

If consolidation frees credit cards and spending resumes, debt can increase. The product path includes a post-funding action checklist instead of stopping at approval.

Interactive decision tool

Two-offer comparison

Put both offers on the same dollar basis before choosing.

1Enter→2Compare→3Verify

Offer A total repaid$Offer A first payment$Offer B total repaid$Offer B first payment$

Illustrative resultEnter your numbers

Provider terms and current state requirements control any offer.

Decision infographic

Normalize two offers before choosing

Compare the same amount and deadline.

MatchPrincipalUse the same cash need.

CompareTotal repaidInclude every required charge.

ProtectFirst paymentKeep essentials covered.

What controls the decision

Cash receivedMatch

Total costCompare

Payment fitProtect

3/3

Ready to compare

Inputs, provider disclosure and repayment fit must agree.

Three gates before you continue

1Same basisEqual amount and deadline?
2Full costEvery mandatory fee included?
3Cash flowFirst payment remains workable?

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Apply the result to this decision

Use the remaining checks before moving to a provider form.

Decision table

Input	Current debt path	New loan path
Balances	Each account	Consolidation principal
APR	Weighted + individual	New APR
Fees	Existing account fees if relevant	Origination/mandatory fees
Payment	Current minimum/target	Fixed loan payment
Payoff date	Existing schedule	New term
Total cost	Projected	Projected

Product scenario

Illustrative only: if several debts total $15,000, Payday Hex compares their actual balances and rates with a quoted consolidation loan. It does not assume the loan saves money until origination fees, term and total payments are included.

Product objections / FAQ

Does one monthly payment mean consolidation is cheaper? No. Compare total cost and payoff date.

Should the new APR be lower than every current debt? Not necessarily, but the total replacement cost must make sense.

Can consolidation hurt if I keep using paid-off cards? Yes. Re-accumulating balances can leave you with both the new loan and new card debt.

Quick comparison

What the product page must answer

Decision	Look for	Stop if
Availability	State eligibility and provider identity	The creditor or license path is unclear
Cost	Amount received, required fees, APR and total repayment	Only the payment size is shown
Timing	Decision, release and bank-posting stages	“Instant” is presented as guaranteed
Repayment	Exact dates, method and late-payment consequences	The payment reopens the same cash gap

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Related guides and tools

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