You should consider consolidating your debts and make a payment to the consolidated loan equal to your total monthly payments before consolidation. The new consolidated loan will take only 42 more payments or 3.5 years to pay off the remaining balance. Interest savings will amount to $28,170.<table class='pure-table' role='grid'><tr><th class='section'>Current Debt Analysis</th><th class="hiddenHeader">Value</th></tr><tr><td>Total debt balance</td><td>$51,221</td></tr><tr><td>Total monthly payments</td><td>$1,378</td></tr><tr><td>Total remaining interest to be paid</td><td>$33,758</td></tr><tr><td>Total number of payments remaining: (longest loan)</td><td>64</td></tr><tr><th class='section'>Consolidated Loan Analysis</th><th class="hiddenHeader">Value</th></tr><tr><td>Proposed loan amount</td><td>$51,221</td></tr><tr><td>Required monthly payment</td><td>$1,558</td></tr><tr><td>Total remaining interest to be paid</td><td>$4,876</td></tr><tr><td>Total number of payments remaining: (full term)</td><td>36</td></tr><tr><th class='section'>If You Apply Your Monthly Savings To The New Loan</th><th class="hiddenHeader">Value</th></tr><tr><td>Monthly savings amount</td><td>$-180</td></tr><tr><td>Total remaining interest to be paid</td><td>$5,588</td></tr><tr><td>Total number of payments remaining</td><td>42</td></tr></table> <div id="chart1Container">Chart will load here</div> <script type="text/javascript"> <!-- var myChart1 = new FusionCharts( "MSColumn2D", "myChart1Id", "100%", "100%", "0", "1" ); myChart1.setXMLData("<chart showValues='1' showFCMenuItem='0' decimals='0' formatNumberScale='0' caption='Total Interest' xAxisName='' numberPrefix='$' bgColor='FFFFFF' showBorder='1' borderColor='FFFFFF' borderThickness='1' canvasBgColor='E6E3CF' palette='2' numberSuffix='' thousandSeparator=',' decimalSeparator='.'><categories><category label='' /></categories><dataset seriesName='Current'><set value='33758.0' /></dataset><dataset seriesName='Consolidated'><set value='5588.0' /></dataset></chart>"); // --> </script> <table class='pure-table pure-table-bordered' role='grid'><tr><th scope="col">Year</th><th scope="col">Beginning Balance</th><th scope="col">Interest @ 6.0%</th><th scope="col">Annual Payment</th><th scope="col">Ending Balance</th></tr><tr><td role="rowheader" scope="row">1</td><td>$51,221</td><td>$2,697</td><td>$16,536</td><td>$37,382</td></tr><tr><td role="rowheader" scope="row">2</td><td>37,382</td><td>1,843</td><td>16,536</td><td>22,689</td></tr><tr><td role="rowheader" scope="row">3</td><td>22,689</td><td>937</td><td>16,536</td><td>7,090</td></tr><tr><td role="rowheader" scope="row">4</td><td>7,090</td><td>111</td><td>7,201</td><td>0</td></tr></table>