00:00.990 --> 00:03.510
Johny Fernandez: So the other
question is what is a reverse

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consolidation?

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Sean Murray: What is a reverse
consolidation? So, you know, I

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don't know where this term came
from, but it's gotten quite

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popular in the last few years in
the in the non bank finance

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industry. What is a reverse
consolidation? So what's

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different is that instead of the
the consolidator paying off all

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of your outstanding loans or
obligations at once, what they

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will do instead is that they
will make the payments towards

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all your loans and obligations
as they're supposed to be paid.

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Right? And not actually pay them
off at once. They'll pay them

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off over over time. Yeah. So if
you have five lenders who are

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debiting your account every day
or every week, the reverse

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consolidator will give you the
money each time those debits are

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going to come out to cover all
of those payments. And at the

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end, once everyone is paid off,
where you're going to be paying

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the reverse consolidator for a
long time because they've been

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paying all your bills. They've
been paying all your loans off

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for a long time. And so then you
only have one at the end of it.

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But in the meantime, they're
gonna cover all of your

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payments. That's a reverse consolidation.