A debt consolidation loan is a personal loan that helps you to merge all your existing debts into one. That means instead of paying for several debts, you will need to make only one repayment. These loans are divided into two types: secured and unsecured. A secured debt consolidation loan will require any kind of security while you borrow the money. And an unsecured debt consolidation loan doesn’t need any collateral.

Loan Broker offers unsecured debt consolidation to help you manage your debts. These loans can be further categorized as short-term loans and long-term debt consolidation loans. With a short-term loan, the amount taken out by the borrower has to be repaid within 12 months or less. And with a long-term consolidation loan, the repayment period ranges from 1 year to 7 years. You do not have to find a co-signor to vouch for you at the time of borrowing. The lender will approve the loan application basis on your creditworthiness.

Consolidating your debts can help you save a lot of time, effort, and money. Whether you have multiple credit card bills or pending loans, you can apply for a loan with us to combine all your debts into a manageable one.