Consolidation loan and consolidation credit

Unless otherwise defined, a loan that consolidates, or pays off, several old loans and replaces them with one new loan, usually to obtain a lower interest rate or lessen monthly payment by extending the loan over a longer period of time. – See Consolidation.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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