debt consolidating is when somebody obtains a unique loan to cover down lots of smaller loans, debts, or bills that they’re presently making re payments on. By doing this they efficiently bring all of these debts together into one mixed loan with one payment per month. This is referred to as вЂњconsolidatingвЂќ them since this is bringing multiple debts together and combining them into one loan. ThatвЂ™s why it is called a debt consolidation reduction loan. Debt consolidating loans are released by banking institutions, credit unions, and boat finance companies.