LSDefine

Simple English definitions for legal terms

debt consolidation

Read a random definition: price expectancy

A quick definition of debt consolidation:

Debt consolidation is when someone combines all of their debts into one payment. This can help make it easier to manage their money and pay off what they owe. Creditors may agree to accept lower monthly payments or take less money overall. This is also called debt pooling or debt adjustment.

A more thorough explanation:

Definition: Debt consolidation, also known as debt pooling, is an arrangement where a person's debts are combined into one loan. Creditors agree to accept lower monthly payments or to take less money.

Example: John has three credit cards with different balances and interest rates. He decides to take out a debt consolidation loan to pay off all three credit cards. The loan has a lower interest rate than the credit cards, and John only has to make one monthly payment instead of three.

Explanation: In this example, John's debts are consolidated into one loan, which simplifies his payments and reduces his interest rate. The creditors agree to accept the loan payment instead of the individual credit card payments. This arrangement helps John manage his debt more effectively.

debt capital | debtee

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 0 👎

lilypadfrog

14:03

yeah you can request an extension. usually it’s like a week though

PuppyBot

14:03

i need tips for not falling asleep at work

SaddestPortlander

14:03

drugs

PuppyBot

14:03

can we talk about something interesting like i dont know drugs sex death

ReminiscentZestyFish

14:04

Everyone admitted to penn looks like above medians

PuppyBot

14:04

time to harass glove on linkedin

lilypadfrog

14:06

that’s a good way to stay awake. tell him to come back here

PuppyBot

14:08

lily i broke a rubber band already

PuppyBot

14:08

le sigh

lilypadfrog

14:08

damn you get vicious with it. just pinch yourself or something

lilypadfrog

14:09

don’t break your finger

oakenrays

14:13

its a bum-ass law school but LSD really needs to update UCLawSF's name

oakenrays

14:13

whose manager can I call about that

lilypadfrog

14:14

I think the people in charge don’t come on here anymore but you can email them if you really care like that

llama

14:14

yeah true that. Although I prefer Hastings just because it is easy to differentiate from U of SF

renard99

14:14

There's a lot on this site that doesn't work and for maybe $5k I'd be more than willing to fix it

llama

14:14

send bid proposal Renard

renard99

14:14

But as Lilypad said it's probably just maintained atp, no major updates

oakenrays

14:15

fwiw all the UCLSF students I know still basically say hastings. even the huge crest in the foyer still says hastings

renard99

14:15

@llama: Man I'd be more than happy to

llama

14:15

LSD is in decay age of social network

renard99

14:15

^LMAO yeah

renard99

14:15

Basically accepted atp that I'm gonna have to R&R so might as well take up some jobs while I'm at it

llama

14:15

sad. imagine being here in 2005/2010 when it was 100 operational. woe is me

BulbasaurNoLikeCardio

14:16

@llama: back when 160s meant t14

oakenrays

14:16

born too late to experience full LSD born too soon to explore the galaxy

llama

14:16

^ gets it

lilypadfrog

14:16

https://www.lsd.law/users/creep/cryptanon this is one of the guys who made the website

llama

14:16

@lilypadfrog: wow more recent than i would have wagered

llama

14:17

how is it so that I creep a rando and their app year is 2005-2005?

LSD+ is ad-free, with DMs, discounts, case briefs & more.