loan consolidation
Combining a number of loans into a single new loan. Consolidation typically extends the repayment period, lowers the monthly payments, and thereby increases the interest the borrower will have to pay over the life of the consolidated loan.
Category: Back Taxes & Tax Debt
Category: Bankruptcy, Foreclosure & Debt → Bankruptcy
Category: Bankruptcy, Foreclosure & Debt → Student Loan Debt
Category: Bankruptcy, Foreclosure & Debt → Foreclosure
Category: Bankruptcy, Foreclosure & Debt → Debt & Collection Agencies
Category: Personal Finance & Retirement → Taxes

Nolo’s Plain-English Law Dictionary. . 2009.

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  • consolidation — [ kɔ̃sɔlidasjɔ̃ ] n. f. • 1314 « cicatrisation »; de consolider 1 ♦ (1694) Action de consolider, de rendre plus solide. ⇒ affermissement, renfort, réparation, stabilisation. Consolidation d un mur, d un ciel de mine. ♢ (1754) Méd. Rapprochement… …   Encyclopédie Universelle

  • consolidation loan — loan created by merging which several separate loans into one …   English contemporary dictionary

  • loan — money lent at interest.A lender makes a loan with the idea that it will be paid back as agreed and that interest will be paid for the use of the money. Glossary of Business Terms Temporary borrowing of a sum of money. If you borrow $1 million you …   Financial and business terms

  • loan — A lending. Delivery by one party to and receipt by another party of sum of money upon agreement, express or implied, to repay it with or without interest. Boerner v. Colwell Co., 21 Cal.Sd 37, 145 Cal.Rptr. 380, 384, 577 P.2d 200. Anything… …   Black's law dictionary

  • loan — A lending. Delivery by one party to and receipt by another party of sum of money upon agreement, express or implied, to repay it with or without interest. Boerner v. Colwell Co., 21 Cal.Sd 37, 145 Cal.Rptr. 380, 384, 577 P.2d 200. Anything… …   Black's law dictionary

  • consolidation loan — a loan made in order to consolidate several debts into one loan, usually for the purpose of reducing the monthly payments by extending them over a longer time period. * * * …   Universalium

  • consolidation loan — a loan made in order to consolidate several debts into one loan, usually for the purpose of reducing the monthly payments by extending them over a longer time period …   Useful english dictionary

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