Debt Consolidation

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A term used by debt consolidation companies that aim at restructuring a debtors debt into an affordable repayment plan

The goal of debt consolidation companies is to establish a fixed “monthly consolidated payment” that provides the debtor with an affordable budget while allowing them to sustain a reasonable standard of living.

It allows the debtor to work within a known and specific fixed monthly budget.  

The Department of Justice provides an approved list of credit counselors and debt consolidation services.

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