Powered by SecureRights 
|
|
Debt Consolidation
The action of combining several loans or liabilities into one loan. Put
another way, debt consolidation is the process of taking out a new loan to pay
off a number of other debts. Most people who consolidate their debt are usually
doing it to attain a lower interest rate, or the simplicity of a single loan.
Also known as a "consolidation loan".
In other words ...
A strategy sometimes used by consumers to better manage their debt problems.
Rather than paying off several separate bills each month, a consumer
consolidates his or her debts with a financial institution that will arrange for
one lower monthly payment extending over a period of time.
Debt Consolidation can:
* Help avoid filing bankruptcy
* Eliminate creditor harassment
* Lower debt payments up to 50%
* Provide one monthly payment
The most important benefit of consolidation is that it can offer a fresh start
on the road to a more healthy financial situation. Please visit our Free Money
Tips page for more information on how to improve your household budget, lower
your bills, and make more income.
|
