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Debt Consolidation

Debt consolidation is the process of combining two or more loans into a single credit account, usually to help lower the total cost of credit and to simplify the management of a debtors credit accounts. A typical vehicle for debt consilidation would include a second mortgage or home equity line of credit. These loans may provide certain tax advantages not available with other kinds of credit, but may also require your home as collateral.

Previous Credit Card Term: Debt Collector

Next Credit Card Term: Debtor

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