The best type of debt consolidation loan for you depends on your individual financial situation. If you have good credit and a valuable asset to use as collateral, a secured loan may be a good option. If you have bad credit or no collateral, an unsecured loan may be your only option.
What are the interest rates on debt consolidation loans?
Interest rates on debt consolidation loans vary depending on the lender, the type of loan, and your credit score. You can expect to pay an interest rate between 5% and 36%.
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