It can be challenging to manage multiple debt accounts at once, but you may be able to find relief with a debt consolidation loan. They are readily available through traditional banks, credit unions and online lenders and come in two forms: secured and unsecured loans.
Both secured and unsecured debt consolidation loans can help you shave several months or even years off your repayment period. Furthermore, you may save a bundle in interest by getting a debt consolidation loan with a more competitive interest rate and using it to eliminate your existing debt balances.
How a debt consolidation loan works
A debt consolidation loan is a personal loan used to roll several debt balances into a new loan product. Youll typically get a loan te…
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