New principal
$3,000
$3,000 Loan
Allocate the $3,000 before comparing the payment
If a $3,000 loan would both repay debt and cover a new expense, the entire amount is not available to spend twice. Build a proceeds ledger first. Then compare the replacement obligation and any old payments that remain.
Bottom Dollar Payday is a product of FSST Financial Services, LLC, not a lender. An independent provider processes the application; terms and availability depend on the provider.
- Choose your amount
Start with your cash need and repayment.
- Complete the application
Continue to the provider’s online form.
- Review any offer
Check the cost and dates before accepting.
Hypothetical withheld fee
$150
Net proceeds
$2,850
Start with your situation
Where would the money go?
Use actual payoff quotes and a confirmed new-expense balance.
Only to a new expense
Keep the full expense in the coverage test, subtract available cash and use net proceeds after any deduction. Existing loans remain in your repayment budget.
Only to repay existing debts
Use each creditor’s payoff amount for the intended date, not just a previous statement balance. Confirm who sends payments and how settlement is acknowledged.
To old debt and a new bill
List both uses separately. Money paid to an old creditor is no longer available for the bill, even though both are funded by the same new loan.
Allocate every dollar of net proceeds
Illustration: a $3,000 principal has a hypothetical $150 withholding, leaving $2,850. An existing debt requires $1,750 to pay off. That leaves $1,100 for a new $1,250 expense, so $150 is still missing.
| Proceeds ledger | Amount |
|---|---|
| New principal | $3,000 |
| Hypothetical withheld fee | $150 |
| Net proceeds | $2,850 |
| Existing-debt payoff | $1,750 |
| Cash left for the new expense | $1,100 |
| New expense | $1,250 |
| Remaining shortage | $150 |
On a narrow screen, scroll inside the table to see every column.
The combined uses total $3,000, but net delivery is only $2,850. A headline $3,000 approval would not close this example. Check actual fee documents; installment-loan charges need to be included in the evaluation. [R06]
Test combined uses before treating either as covered
The worksheet adds the intended payoff and new expense into one requirement. For this example enter $3,000 combined uses, zero available cash, zero confirmed help and $2,850 net proceeds before payoff. It shows the overall $150 shortfall.
Do not enter $2,850 as net proceeds and then add the $1,100 remaining after payoff as another resource. That would count some of the same money twice. If you test only the new expense instead, use $1,250 as expense and only $1,100 as remaining funds—not the whole loan net.
Use the worksheet
Check payoff and new spending as one funding requirement
Enter the expense, your own contribution, confirmed help and the cash the offer would actually deliver. Do not treat promised help as received money.
Use numbers without $ signs or thousands separators; use a dot for decimals. The calculation stays in this page and does not retrieve bank or credit data.
Method, assumptions and limits
Initial gap = max(0, expense − usable cash − confirmed assistance). Remaining gap = max(0, expense − cash − assistance − net proceeds). Resources above the expense = max(0, cash + assistance + net proceeds − expense). This does not calculate loan cost or recommend taking the extra amount. Enter net proceeds after known deductions, not principal.
Input limits: money $0–$35,000 (two decimal places); principal must be positive; fee must be below principal. Monthly term: 1–600 whole months. Annual nominal rate: 0–1,000%, up to four decimals. App uses: 0–1,000 whole uses. These are calculator limits, not available loan terms.
Confirm when an old payment can leave the budget
Moving money and settling an obligation are separate stages. Keep an explicit record so a new payment does not arrive alongside an old one you removed too early.
| Stage | What to obtain | Budget treatment |
|---|---|---|
| Before funding | Payoff amount and date through which it applies | Old scheduled payments remain visible |
| When sending payoff | Recipient, reference and amount sent | Do not assume the creditor has posted it |
| After posting | Confirmation of the remaining or zero balance | Update only the obligation actually settled |
| After transition | New schedule and any old residual charge | Keep unresolved amounts in the plan |
On a narrow screen, scroll inside the table to see every column.
Ask the creditor how pending automatic payments and residual amounts are handled. Do not cancel instructions based solely on a new-loan approval screen.
Separate payment relief from total savings
Debt consolidation uses new borrowing to repay existing obligations. A smaller monthly payment can come from a longer term and can cost more overall. [R16] Compare remaining old payments with the full new schedule, including fees and any additional cash borrowed for the new expense.
If the new loan also finances $1,250 of spending, comparing its payment against old debt alone is not a like-for-like savings calculation. Separate the replacement amount and new spending in the explanation. Do not advertise a saving when part of the difference simply reflects a changed amount or duration.
Model the new loan without pretending it verifies the old one
For orientation, $3,000 at a hypothetical fixed 20% nominal annual interest rate over 24 equal monthly periods, with no fees, gives a modeled payment of about $152.69 and total repayment of $3,664.50. The first payment is assumed one month after funding. This is not an offer or regulatory APR calculation.
That no-fee example is different from the $150-withholding ledger above; do not combine their figures as one offer. Use the provider’s actual principal, charges and schedule for repayment. Ask about any security, use restriction or direct-creditor-payment requirement before committing.
Proceed only after the allocation and transition agree
Keep the combined-use ledger, payoff evidence and new repayment calendar together. An uncertain payoff amount, an unconfirmed second source or an unexplained residual balance means the plan is incomplete.
If the aim is relief from unmanageable payments rather than a specific new expense, explore the creditor’s actual options or a reputable credit-counseling service instead of assuming another loan solves it. [R16] This page does not settle debts, send payoff money or submit a $3,000 application.
Questions before your next step
Can I spend all $3,000 and also use it to repay an old loan?
No. Allocate the net proceeds once. Anything paid to an existing creditor is no longer available for the new expense.
When can I remove an old payment from my budget?
After confirming the actual obligation is settled or changed. A new approval or payment initiated is not sufficient proof.
Does a smaller new payment prove savings?
No. Compare amount, duration, fees and all remaining obligations on the same basis. Additional new spending must be kept separate.
Related decisions
Ready for your next step?
Continue to the online application. Review the terms of any offer before you accept.
Sources and scope
Sources support general product facts, not a Bottom Dollar lender offer or endorsement. Numerical scenarios are illustrations, not available rates or terms.
