Debt consolidation

Debt consolidation is a form of debt refinancing that entails taking out one loan to pay off many others.^[1] This commonly refers to a personal finance process of individuals addressing high consumer debt, but occasionally it can also refer to a country's fiscal approach to consolidate corporate debt or government debt.^[2] The process can secure a lower overall interest rate to the entire debt load and provide the convenience of servicing only one loan or debt.^[3] Debt consolidation is sometimes offered by loan sharks,^[4] who charge clients exorbitant interest rates.^[5] Further regulation has been discussed as a result.^[6]^[7]^[8]

^ Fontinelle, Amy (November 26, 2014). "Alternatives To Balance Transfers". Investopia. Retrieved 21 December 2014.
^ Global risk insights (December 20, 2014). "China's Interest Rate Cut Not as Reformist As It Seems". Seeking Alpha. Retrieved 21 December 2014.
^ Joan Ryan (14 January 2011). Personal Financial Literacy. Cengage Learning. pp. 292–. ISBN 978-0-8400-5829-4. Retrieved 13 December 2011.
^ "Debt consolidation". www.nationaldebtline.org. Retrieved 2024-08-27.
^ "Loan shark debt". www.stepchange.org. Retrieved 2024-08-27.
^ "Long-Term Debt Requirements for Large Bank Holding Companies, Certain Intermediate Holding Companies of Foreign Banking Organizations, and Large Insured Depository Institutions". www.federalregister.gov. Retrieved 2024-08-27.
^ "Code of Federal Regulations". www.fiscal.treasury.gov. Retrieved 2024-08-27.
^ "Agencies request comment on proposed rule to require large banks to maintain long-term debt to improve financial stability and resolution". www.federalreserve.gov. Retrieved 2024-08-27.

[Investopia-1] Fontinelle, Amy (November 26, 2014). "Alternatives To Balance Transfers". Investopia. Retrieved 21 December 2014.

[china-2] Global risk insights (December 20, 2014). "China's Interest Rate Cut Not as Reformist As It Seems". Seeking Alpha. Retrieved 21 December 2014.

[Ryan2011-3] Joan Ryan (14 January 2011). Personal Financial Literacy. Cengage Learning. pp. 292–. ISBN 978-0-8400-5829-4. Retrieved 13 December 2011.

[4] "Debt consolidation". www.nationaldebtline.org. Retrieved 2024-08-27.

[5] "Loan shark debt". www.stepchange.org. Retrieved 2024-08-27.

[6] "Long-Term Debt Requirements for Large Bank Holding Companies, Certain Intermediate Holding Companies of Foreign Banking Organizations, and Large Insured Depository Institutions". www.federalregister.gov. Retrieved 2024-08-27.

[7] "Code of Federal Regulations". www.fiscal.treasury.gov. Retrieved 2024-08-27.

[8] "Agencies request comment on proposed rule to require large banks to maintain long-term debt to improve financial stability and resolution". www.federalreserve.gov. Retrieved 2024-08-27.

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