Posted on
August 25, 2009
at
5:46 am
I'm a little confused as to what the difference is between just debt consolidation and a debt consolidation loan..can you tell me? What is the exact definition or meaning of debt consolidation?
Posted on
August 25, 2009
at
5:51 am
What is the definition of debt consolidation loan?"taking out one loan to pay off many others.""the replacement of multiple loans with a single loan, often with a lower monthly payment and a longer repayment period. Also called consolidation loan."What is the definition of debt consolidation?I don't think there is an exact definition for it but the idea is to combine all your debts into a single amount so it could all be paid off using a single debt relief solution.
Posted on
August 25, 2009
at
5:58 am
You can also ask what debt consolidation services are available for consumers -that are seeking relief from unsecured debts and are trying to avoid filing bankruptcy too, instead of just
"What is the definition of debt consolidation?" since there really isn't an exact definition to that.
Posted on
August 25, 2009
at
6:02 am
To add to what 99 hundred's -Credit counseling (Debt Management Plan) can be considered a debt consolidation service. The consumer whose debt total is less than $10,000 (high interest) can qualify for it. Debt settlement is for consumers with over $10,000 worth of debt, with past due accounts.If you need for your financial situation to be assessed and if you're wondering which debt consolidation service is the right one for you, feel free to fill out a form here at destroydebt.com. You would not be charge for the consultation.All the best!
