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LSDefine

Simple English definitions for legal terms

debt pooling

Read a random definition: dismissed with prejudice

A quick definition of debt pooling:

Debt pooling is when someone combines all their debts into one big debt. This makes it easier to manage and pay off. The person can negotiate with their creditors to pay less money each month or to pay back less overall. This is also called debt consolidation or debt adjustment.

A more thorough explanation:

Definition: Debt pooling is an agreement where a person's debts are combined into one and creditors agree to accept lower monthly payments or to take less money. It is also known as debt consolidation or debt adjustment.

Example: John has three credit cards with different balances and interest rates. He is struggling to make the minimum payments every month. He decides to apply for debt pooling, which combines all his credit card debts into one loan with a lower interest rate. John now has to make only one monthly payment, which is lower than the total of his previous payments.

Explanation: In this example, John's debts are consolidated into one loan, which makes it easier for him to manage his finances. The creditors agree to accept lower monthly payments because they know that John is committed to paying off his debts. Debt pooling helps people to reduce their debt burden and avoid defaulting on their loans.

debtor's property | debt ratio

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9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
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