consolidation loan


Also found in: Financial, Wikipedia.
Related to consolidation loan: Debt consolidation

consolidation loan

n
(Banking & Finance) a single loan which is taken out to pay off several separate existing loans
References in periodicals archive ?
Contract award notice: Granting a long-term consolidation loan (poland-drobin: Credit granting services)
To provide a relief to debt-laden consumers, banks are offering borrowers a chance to opt for a "debt consolidation loan.
A Direct Consolidation Loan allows you to combine multiple federal education loans into one loan.
Some debt management companies also charge fees that add to a person's debt and may simply suggest a consolidation loan - where all the consumer's unsecured loans are paid off with a larger loan secured on a property.
If you're juggling multiple debts in the form of credit cards, personal loans and overdrafts, it may be simpler to consolidate your debts into one with a debt consolidation loan.
If you have a very high debt load and a low credit score, you might not qualify for the best interest rates on a consolidation loan.
One in four people who take out a debt consolidation loan go on to run up more debts, a survey claimed today.
Close to 100 exhibitors reviewed their consolidation loan programs and other financial aid products with approximately 3,100 attendees.
Lenders say the answer for most students is a consolidation loan, through which borrowers can combine their various loans under one interest rate.
Recently, trends in interest rates and consolidation loan volume have increased overall federal costs, leading Congress to consider cost reduction proposals.
Then get a consolidation loan, buy a new car, have a two week family holiday and make one easy payment of pounds 1,000 a month for your working life or we'll take your house off you and send your children up chimneys.
The Office of Fair Trading announced last night it was launching a study into the rapidly growing debt consolidation industry, amid concerns that consumers often do not understand what they are signing up to when they take out a debt consolidation loan.
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