The Debt Reduction Calculator measures your monthly payments and monthly savings for three of the most likely options that may be available to eliminate your total unsecured debt (excluding mortgages and car loans).
Debt Reduction Calculator
Total Savings per Option
Monthly Payment per Option
|What it means if your total unsecured debt is: $25000||Paid over a 5 year term|
|Total Savings||Total Payments||Monthly Savings||Monthly Payments|
|Consumer Proposal||(Pay 30%, no interest)||$30590.14||$7500.00||$509.84||$125.00|
|Consolidated Loan||(Pay 100%, 12% interest)||$4723.47||$33366.67||$78.72||$556.11|
|Full Loan||(Pay 100%, 18% interest)||$0.00||$38090.14||$0.00||$634.84|
Important: these calculations are based on simplified assumptions (18% interest on initial loan, 12% interest on consolidated loan and 30% of initial loan with 0% interest given an accepted consumer proposal) and do not take into consideration variables that are exclusive to individuals. To obtain accurate options based on your unique situation, please call (514) 777-8888 or submit contact form for an appointment with one of our insolvency experts.