Debt consolidation is essentially a form of refinancing that entails taking out one loan to pay off many others, hence consolidating debt. This can be a resolution for high consumer debt such as credit cards, student loans, medical bills, etc.
Archive: Apr 2018
The average American has over $200,000 in debt, and a growing concern for many is whether inheriting debt can occur in relation to their children. In most cases, the answer is no. Laws do differ from state to state though, and some portions of debt left behind may need to be paid.
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