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.
Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent!
University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: email@example.com