


|

|
Topic
Top news source/blog that we're missing
Why do you recommend this news source?
|
||

| This article is part of WikiProject Definitions. Consider editing to improve it. View articles referencing this definition. |
See also Debt.
In general, debt consolidation is to take all or most outstanding debt from numerous accounts and combine it into one monthly payment. Debt consolidation takes on many forms such as taking equity out of a piece of real estate in the form of a mortgage loan and converting the equity to cash to payoff debts. This effectively consolidates the unsecured loan payments into the one mortgage loan payment. DMP (Debt management programs) are debt consolidation plans for unsecured debt only. Debt management plans are set up for people with financial hardships.



| ||||||
