LSDefine

Simple English definitions for legal terms

consolidation loan

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A quick definition of consolidation loan:

A consolidation loan is a type of loan that helps people manage their debt. It works by combining multiple loans into one, making it easier to keep track of payments and potentially lowering the interest rate. For example, if someone has three different loans with different interest rates, they can take out a consolidation loan to pay off all three loans and have just one payment to make each month. This can help them save money and simplify their finances.

A more thorough explanation:

A consolidation loan is a type of loan that is used to pay off multiple individual loans, resulting in a more manageable debt. For example, if someone has three different loans with different interest rates and payment schedules, they can take out a consolidation loan to pay off all three loans and have only one loan to pay back.

For instance, if someone has a car loan, a credit card debt, and a personal loan, they can take out a consolidation loan to pay off all three debts. This way, they will only have one loan to pay back, with a single interest rate and payment schedule.

Consolidation loans are helpful for people who have multiple debts and want to simplify their finances. They can also help people save money on interest payments, as consolidation loans often have lower interest rates than credit cards and other types of loans.

consolidation | consolidation of actions

General

General chat about the legal profession.

General >T14 Off Topic

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[] cheriebomb

15:23

what if I started flexing again

cheriebomb

15:24

that might be too much

llama

15:33

can we see ur mod badge?

[M] cheriebomb

15:41

just for u sweetie pie

llama

15:43

woah so much swagger with dat 'm;

Dkk

15:47

@shaquilleoatmeal: more like, blow my back out by the bay boston instead of back bay boston.

llama

15:48

https://www.urbandictionary.com/define.php?term=Chad%20Thundercock

Dkk

15:48

Indeed, the legendary man himself.

cheriebomb

15:49

I would go to blow my back out by the bay boston

llama

15:50

lift with ur back not your legs, its better to have a blown back than two bad legs

CynicalOops

15:53

Blow and back day out by boston bay

cheriebomb

15:59

so true

Dkk

16:03

Of course. Man sad Ricky Henderson died. That was my favorite athlete of all time.

windyMagician

16:10

is it dumb that I rlly want to go to Mich even tho I have a full ride to umn

llama

16:12

no-value as a consumer often means more than the price

Dkk

16:15

@windyMagician: Nah michigan is better than UMN

Dkk

16:15

My sister just officially graduated, yay!

llama

16:16

awesome @Dkks sister

llama

16:16

prolly named veronica or sarah

windyMagician

16:16

@Dkk: for public defense tho?

windyMagician

16:16

Sarah in the bathroom

texaslawhopefully

16:17

@windyMagician: not at all. Michigan is also very generous with aid, so if you get enough it makes perfect sense to take it.

windyMagician

16:17

fuck okay

windyMagician

16:17

going to my dream school is crazy

KnowledgeableRitzyWasp

16:18

michigan also has better options if you do PD for 10 years then want to do something else

windyMagician

16:19

also would love to clerk for my federal district court even tho I know its hella competitive, I think mich sets me up better?

llama

16:20

would be a great point to bring up when ur deciding / visiting each place- see what recent placement looks like

texaslawhopefully

16:23

For fed clerkships by far Michigan places better. I think it’s like 14-15 percent

windyMagician

16:25

sticker debt is high-key scary tho

texaslawhopefully

16:26

I’m sure you’ll get good merit aid though. Look at Michigan’s 509 report. They’re very generous.

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