Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

loan consolidation

Read a random definition: ex assensu curiae

A quick definition of loan consolidation:

Loan consolidation is when you combine several loans into one new loan with a lower interest rate and a new payment plan. This means you only have to make one payment each month instead of many. It can help you save money on interest and make it easier to manage your debt. However, if you extend the repayment period too much, you may end up paying more in interest in the long run. Lenders will look at your credit score, income, and credit history to see if you qualify for loan consolidation. If you make your payments on time, it can also help improve your credit score.

A more thorough explanation:

Loan consolidation is the process of combining multiple loans into one new loan with a lower interest rate and a new payment plan. This means that instead of paying different creditors, the debtor only has to make one payment to one creditor each month.

For example, if a person has three different loans with different interest rates and payment schedules, they can consolidate those loans into one new loan with a lower interest rate and a longer repayment period. This can make it easier for the debtor to manage their finances and make payments on time.

However, there are also risks involved in loan consolidation. If the repayment period is extended too much, the debtor may end up paying more in interest even if the interest rate is lower. Lenders usually consider the debtor's credit score, income, and credit history before deciding if they are eligible for a loan consolidation.

After a loan consolidation, the debtor may have a higher credit score if they make their payments on time. This can make it easier for them to get approved for future loans or credit.

loan broker | Local government - State statutes

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
LSD+ is ad-free, with DMs, discounts, case briefs & more.