Sentences with phrase «together several debts»

Not exact matches

Instead of paying off several loans with varying interest rates, in a debt consolidation procedure, the balances are collected together in a single loan with a lower or fixed interest rate.

Destabilizing Elements (II) • The end of joint & several liability • Reinforced equal sharing / lockstep • Discourages flight — you remain liable for debts incurred while at the firm • With personal liability, incentive is to try to rehabilitate a declining firm • Without it, logic dictates early departure — first out the door • Most importantly: The end of periodic shared decisions to stay together