A private loan for debt consolidation is a financial arrangement granted by a private lender to a borrower who wants to consolidate all his loans in a single debt.
A private loan for debt consolidation has the objective to group all debts of a borrower in a single loan and thus reduce the weight of interest rate charge, in addition the private lender extends the repayment time so that the monthly rate is strongly reduced.
A debt consolidation between people is a good thing for the borrower since a private individual will lend him money to finally consolidate his debts into one credit.
The loan pooling between people will be done without going through a bank or a credit broker and deliver creditors who lost patience because of difficulties the borrower to repay its loans.
The debt consolidation between people offers many advantages for the borrower: