Loan Consolidation

Definition: Loan Consolidation is a process in which one loan is taken out to pay off many others.
This is typically done to secure a lower interest rate, secure a fixed interest rate or for the convenience of servicing only one loan.
Also called debt consolidation.

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More on financial management: Absorption Costing, Accounts Receivable Factoring, Credit Management, Credit Rating, Customer Profitability Analysis, more on financial management...

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