Debt consolidation is a form of debt refinancing that entails taking out one loan to pay off many others.[1] This commonly refers to a personal finance process of individuals addressing high consumer debt, but occasionally it can also refer to a country's fiscal approach to consolidate corporate debt or government debt.[2] The process can secure a lower overall interest rate to the entire debt load and provide the convenience of servicing only one loan or debt.[3]
^Fontinelle, Amy (November 26, 2014). "Alternatives To Balance Transfers". Investopia. Retrieved 21 December 2014.
^Global risk insights (December 20, 2014). "China's Interest Rate Cut Not as Reformist As It Seems". Seeking Alpha. Retrieved 21 December 2014.
^Joan Ryan (14 January 2011). Personal Financial Literacy. Cengage Learning. pp. 292–. ISBN 978-0-8400-5829-4. Retrieved 13 December 2011.
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