Tagged: loans

Beware the word CONSOLIDATION! 2

Beware the word CONSOLIDATION!

What comes to mind when you hear the word “Consolidation”? Do you envision all of your debts being ‘paid off’ leaving you with the manageable obligation of one monthly payment? If so, you are thinking about a “Consolidation Loan”. A financial institution loans you money by paying off your debt and you pay them back. With interest, of course. Nowadays, the word “consolidation” is being used in a much more liberal term