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consolidation loan

   Also found in: Financial, Wikipedia 0.01 sec.
consolidation loan
n
(Economics, Accounting & Finance / Banking & Finance) a single loan which is taken out to pay off several separate existing loans
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A debt consolidation loan could help if you are struggling to repay a number of debts By reducing your monthly outgoings and/or simplifying your finances, debt consolidation can make a big difference to your financial situation A debt consolidation loan could help if you are struggling to repay a number of debts.
Is Debt Consolidation Right for Me? by Melanie Taylor / Finance and Investment community
By combining multiple loans into one loan and extending the repayment period, a consolidation loan reduces monthly repayments, which may lower default risk and, thereby, reduce federal costs of loan defaults.
Student Loan Programs: Lower Interest Rates and Higher Loan Volume ... by General Accounting Office Reports & Testimony
A consolidation loan is a way to pay off all your debts and roll them into one payment With a consolidation loan a person is immediately satisfying their outstanding debts and starting a new account on their credit A consolidation loan is a way to pay off all your debts and roll them into one payment.
Using a Consolidation Loan to Better Your Credit by James Copper / Finance and Investment community
 
 
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