2006-09-27 12:46:50 · 9 answers · asked by Josh H 1 in Business & Finance ➔ Personal Finance
You deal with a company who merged them all together into one single debt payment, instead of 10 or 12 small debts
2006-09-27 12:48:59 · answer #1 · answered by Anonymous · 6⤊ 0⤋
Consolidate Debt
http://www.debt-explained.com/category/Ways-to-Consolidate-Debt.html
2006-09-28 08:24:07 · answer #2 · answered by men t 2 · 0⤊ 0⤋
It's debts - not debits. Many people owe several people money. When a person consolidates their debts they usually go from making many payments to many people to one payment to one
"person" - a place that helpscombine ddebts usually by paying off the several small ones and getting you to pay them. This is not the only way - but it's one way of doing it.
2006-09-27 19:51:59 · answer #3 · answered by Batlise 2 · 0⤊ 0⤋
All your debts are rolled into one big debt, rather than making a twenty dollar payment on five credit cards, you make one ninety dollar payment to the considation agent.
There are other methods but the principle is the same.
2006-09-27 19:49:49 · answer #4 · answered by Dane 6 · 0⤊ 0⤋
It means to roll them all into one big debt package. It is usually cheaper to pay off one big debt payment, than several smaller ones. Unless you are getting ripped off, which is a possibility and worth watching out for. Otherwise, a wise decision for people with debt issues.
2006-09-27 19:48:28 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Instead of three credit cards, you convert to one credit card with all the debts of the three.
2006-09-27 19:48:46 · answer #6 · answered by barter256 4 · 0⤊ 0⤋
It is when you put all the money you owe(loans, credit cards etc.) together and make one monthly payment.
2006-09-27 19:49:54 · answer #7 · answered by Luv79t 2 · 0⤊ 0⤋
take a lot of loans, and make them one loan
2006-09-27 19:48:49 · answer #8 · answered by NNY 6 · 0⤊ 0⤋
it's the coolest thing in the world...LOL
2006-09-27 19:54:11 · answer #9 · answered by Steph 5 · 0⤊ 0⤋