Jan 19, 2012
Credit consolidation is simply combining all your unsecured debt into a single monthly payment that generally can be paid off in about 1 to 3 years (shouldn’t be more then 5 for extreme cases). It is also referred to as debt consolidation, debt settlement, debt negotiation, debt counseling, and debt relief. Contrary to belief, it does not automatically mean you must take out a loan in order to consolidate your credit. That is just one method (thus the term, credit consolidation loan). As you can see by its various names listed above, there are many ways to achieve consolidation.
