Debt consolidation is the most popular type of debt elimination program in the society today. It is one method of debt management that allows greater flexibility for both the lender and the borrower.
Mainly, a debt consolidation loan benefits the borrower because it gives him a chance to free himself from his debt in a short period of time. For the lender, giving out a debt consolidation loan enables him to make profit over what the borrower is paying him each month. This is certainly one of the best types of win-win situation that can be found in the financial market today.