Business Debt Consolidation

Credit Card/LOC Debt
Worksheet
$
%
$
Installment Debt
Worksheet
$
%
$
Consolidation Loan
%
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Existing Debt
Consolidation Loan
Months to Payoff Existing Debt vs Consolidated Loan
Debt Type Months to Payoff
Credit Card/LOC Debt
Installment Debt
Consolidated Debt
Itemized Credit Card and Line of Credit Debt Worksheet
Card/LOC Balance
Interest Rate
Monthly Payment
Card/LOC 1
Card/LOC 2
Card/LOC 3
Card/LOC 4
Card/LOC 5
Card/LOC 6
Total
Itemized Installment Loan Debt Worksheet
Loan Balance
Interest Rate
Monthly Payment
Loan Balance
Interest Rate
Monthly Payment
Loan 1
Loan 2
Loan 3
Loan 4
Loan 5
Loan 6
Total
Debt consolidation loans allow businesses to transfer the account balances from credit cards, lines of credit or installment loans into a single loan and to make a single monthly payment. For debt consolidation loans to be beneficial, the repayment period for paying off the consolidation loan should be shorter than what it would be for your existing debts without the loan. Secondly, the interest that you pay over the repayment period should be less than what you would pay with your current repayment terms. In some cases, a debt consolidation loan may look attractive because it has a significantly lower monthly payment than what you are paying today, but it is likely the case that the lower payment is due to extending the repayment of the loan over a much longer repayment period.

The information provided by Fintactix's Tools and Content is for illustrative and educational purposes only. The default figures and examples shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results or recommendations made by Fintactix content or calculations. The calculated results are intended for illustrative purposes only and accuracy is not guaranteed. Furthermore, these calculations may not reflect the terms available for any loan, investment or other financial product that may be available at the Licensee website where you use them.