/biz/ - Business & Finance

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Anonymous Sat Jan 18 00:41:58 2020 No.16897482 [Reply] [Original]

Maybe I don't get it but why would you ever try to consolidate a loan?

>have loan(s)
>they have set interest rate(s)
>you take out a loan from another creditor to pay that off
>new creditor won't give you the money to pay off that loan, and in turn have you pay them back, if there was no profit involved
>end result is you paying the money you owe and even more in interest

What's the logic? Even consolidation for the sake of better interest rates isn't going to save you anything.

>>	Anonymous Sat Jan 18 01:53:20 2020 No.16897983 >>16897482 What the fuck are you talking about you retard

>>	Anonymous Sat Jan 18 02:04:38 2020 No.16898040 >>16897482 the point is obviously to reduce your interest rate

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