Family & Health > All Family & Health > UNP-0076

Debt Consolidation
Bernice B. Wilson, Josephine Turner
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Pages / Length: 2
Publication Date: 1/10/2012

Debt consolidation means you borrow enough money from a lending agency to pay off all the charge accounts and credit plans you are now paying monthly. Then you make only one payment each month to the new lender. This usually means you pay out less each month, but you must make payments for a longer time and you usually pay more in finance charges.