Mergers occur when one company buys another in an attempt to consolidate market share and increase production output.
Business consolidations may also significantly increase a company’s operating costs during this process.
Businesses may also consolidate operations for a variety of reasons.
Business consolidations occur internally or externally, depending if the company is reducing facilities or being sold to another business.
Once you are in a position to do so, an option to reduce that cost is to use the money you will be saving to pay extra on your loan each month and pay the loan off sooner, thereby saving some money on interest over the course of the loan.
The second type of debt consolidation you may hear about are debt management plans offered by debt settlement companies.