debt consolidation

Definition

The replacement of multiple loans with a single loan, often with a lower monthly payment and a longer repayment period. also called consolidation loan.

Use debt consolidation in a sentence

We needed some more debt consolidation because it would help us out a lot down the road, sow e talked to our consultant friend.

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The banker believed it was very important to explain to clients how debt consolidation could help their debt become more manageable.

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College graduates are starting to take advantage of debt consolidation programs to lower the payments on their student loan debt where they can combine all their separate variable interest student loans into one loan with a fixed interest rate.

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