debt consolidation

American  

[det kuhn-sol-i-dey-shuhn] / ˈdɛt kən sɒl ɪˌdeɪ ʃən /

noun

Finance.

1. the combining of several smaller loans into a single new loan in order to obtain better terms, as a lower interest rate.

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Etymology

Origin of debt consolidation

First recorded in 1925–30

Example Sentences

WSJ | Buy Side: Fixed monthly costs, lower rates and simplified repayment are potential benefits of debt consolidation.

From The Wall Street Journal

WSJ | Buy Side: A debt consolidation loan can help you streamline credit cards and other high-interest debt, but access to the lowest-rate debt consolidation loans often requires a higher credit score.

From The Wall Street Journal

“Personal loans can make sense for structured debt consolidation or a short-term need with a clear payoff plan,” Um said.

From MarketWatch

WSJ | Buy Side: Business debt consolidation can improve your cash flow and repackage your obligations to potentially save you money.

From The Wall Street Journal

“SoFi marketing shifts from debt consolidation to smart upfront financing.”

From Barron's