Credit Card Debt Worksheet Card balance? $ Interest rate? % Monthly payment? $ Installment Debt Worksheet Loan balance? $ Interest rate? % Monthly payment? $ Loan or Line of Credit Loan or line of credit? - Select -LoanLine of Credit Interest rate? % Interest-only period (years)? Repayment term (years)? Printer-friendly version Debt Total Debt Existing Payments Monthly Payment Months to Pay Off Loan or LOC Payments Interest-only Payment Monthly Payment Months to Pay Off Chart Table Months to Payoff Existing Debt vs Consolidated Loan Debt Type Months to Payoff Credit Card Debt Installment Debt Consolidated Debt Credit Card Debt Worksheet Card Balance Interest Rate Monthly Payment Card 1 Card 2 Card 3 Card 4 Card 5 Card 6 Total Installment Debt Worksheet Loan Balance Interest Rate Monthly Payment Loan 1 Loan 2 Loan 3 Loan 4 Loan 5 Loan 6 Total Submit Home equity loans can be used to consolidate account balances from multiple credit cards or installment loans into a single loan while offering the added benefit of consolidating multiple payments into a single monthly payment. Using home equity for debt consolidation can be beneficial if the repayment period for paying off the home equity loan is shorter than it would be for your existing debts, or if the interest paid over the repayment period is less than what you would pay without consolidating your debt.