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Debt Options Calculator
Our debt calculator provides a comparison of what your monthly debt repayment might look like under different debt relief options including a debt consolidation loan, debt management plan and consumer proposal. Actual results may vary as each situation is unique. Your actual payments will be based on your income, assets and debts but this calculator provides a comparison of the potential savings of each option.
Simply enter your total unsecured debt, including credit card debt, bank loans, lines of credit, payday loans and tax debts. Do not include mortgage or secured car loans.
Enter Your Total Unsecured Debt
| Options To Eliminate Your Debt |
Monthly Payment (approximate) Over 5 Years |
Total Cost Over 5 Years |
Total Savings Over 5 Years |
|---|---|---|---|
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Consumer Proposal Settlement For Less Than Principal debt amount |
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Credit Counselling No Negotiate principal reduction |
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Debt Consolidation With on going applied interest cost |
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Repay Debt on Your Own Monthly payment with on going interest cost |
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This is a simple comparison of why a consumer proposal is often the most beneficial way to eliminate debt.
Got Questions?
Call (416) 222-4600 or fill out the form below to get started.
The Debt Repayment Calculator can help you figure out how much it will cost to repay your debt each month, over a three year period. It also shows you what you can expect in terms of monthly payments for debt consolidation, over a five year period. Finally, it takes into account credit counselling, which assumes that you will pay back all of your unsecured debt in full, at a 0% interest rate.
A consumer proposal is a way to pay back debt that is managed by a government-certified Licensed Insolvency Trustee. This option might have a lower monthly payment than other options, like bankruptcy.