Consolidation vs Bankruptcy Calculator
Results
| Factor | Consolidation | Chapter 7 Bankruptcy |
|---|---|---|
| Monthly payment | -- | -- |
| Total interest paid | -- | -- |
| Total fees | -- | -- |
| Total out of pocket | -- | -- |
| Timeline | -- | -- |
| Debt remaining after | -- | -- |
| Estimated success rate | -- | -- |
Important: This calculator provides estimates for educational purposes only. Actual costs vary by location, provider, and individual circumstances. This is not financial or legal advice. Consult a licensed attorney or financial advisor.
How This Calculator Works
- Consolidation: Uses standard amortization formula to calculate monthly payments and total interest. Adds origination fee and monthly program fees.
- Bankruptcy: Uses a flat cost model: $338 court filing fee + attorney fee + ~$40 for required credit counseling courses.
- No data is collected. All calculations run entirely in your browser. Nothing is sent to any server. You can verify this by viewing the page source.
Related Tools
Means Test Calculator -- See if you qualify for Chapter 7
Discharge Eligibility Screener -- Check your discharge eligibility
Detailed Cost Comparison -- Full analysis with multiple scenarios