crdtloan
The unpaid balance on a credit card. Credit card debt is another example of unsecured debt.
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A plastic card having a magnetic strip, issued by a bank or business authorizing the holder to buy goods or services on credit.
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Combining several loans or liabilities into one loan. The process of taking out a new loan to pay off a number of other debts. Most consumers who consolidate their debt are usually doing it to attain a lower interest rate, or the simplicity of a single loan payment.
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A loan based on the equity in your home, typically used for large expenditures such as major home improvement, buying another home, your college education or major medical bills. Interest can be deducted on tax returns.
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