A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Letter D

Debt consolidation

This is when you get a loan to replace other loans. You can use a new lender but some lenders will allow you to consolidate there loans into one new one.
Consolidating finance can result in a reduction in your monthly payments by spreading single loan over a longer period and possibly, by reducing the overall interest rate.
You can debt consolidate with a mortgage, a secured loan or even an unsecured loan depending on the total borrowing needed.