Debt Consolidation Program Financial Glossary

What is it? A program which is usually handled with you through a consumer credit counseling organization. They contact creditors on your behalf to lower your interest rates so your payments will be more manageable. You send them money weekly or biweekly and they pay your creditors for you. This program usually allows you to get out of debt within 3 to 7 years if you stick with it.

Finance Term Definition Added By: Carson

The Debt Consolidation Program definition has been viewed 1737 Time(s)!

Send To Friends!

If you'd like to send the Debt Consolidation Program definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -

We hope you now understand the meaning of Debt Consolidation Program. If you need any more information on this term, please don't hesitate to contact us.

Other Similar Finance Terms:

Financial Term Escrow Account (Impound Account) is In connection with loans secured by real estate, an escrow account is an account that a borrower pays into at the same time the borrower pays his or her loan payment, and from which the lender makes tax and insurance payments applicable to the borrower.

Financial Term Partial Disability is A disability that is less than total (according to the particular definition relating to the contract in question) but still sufficient to hamper you in your job.

Financial Term dematerialized is A term used to describe a physical certificate representing ownership of a security (a stock certificate or a bond) that is held by a trustee. This is an arrangement through which a physical certificate is held so that all future transactions can be conducted as if the security were issued as a book-entry security. Ownership and liens are recorded in the records of the trustee rather than evidenced by physical possession of the certificate. Also called immobilized. Less often, dematerialized is used to refer to book-entry securities that have never been issued in physical form.

Financial Term Appreciation is An increase in value, the opposite of depreciation.

Financial Term Hazard insurance is Same or similar to property insurance. See also property insurance.