Meaning of the word: Consolidation
Debt consolidation is a consolidation of many loans to the one loan. It is convenient for a debtor who has many loans with high interest rate. The financial institution pay for the customer all his loans then repays only one loan with one interest rate, which is usually less than the sum of the previous interest.
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FROM DICTIONARY
Principal
Principal financial is the amount that the debtor's borrowed from the lender. The reward for providing this amount is interest for the lender, which…
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