debt consolidation - a definition

So, what exactly does debt consolidation entail? Debt consolidation is exactly what it sounds like. Take the word 'debt.' In the dictionary 'debt' is defined as 'an obligation or liability to pay or render something to someone else.'

The word 'consolidation' is 'the act of combining into an integral whole' (from www.dictionary.com).

So 'debt consolidation' is when you combine all of your obligations or liabilities to pay into one integral whole. In layman’s terms, it’s when you put all of your debts together into one.

Go to Debt Consolidation main directory.