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What kind of collateral do debt consolidators usually require?

April 26, 2017collateral consolidators debt require usually

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What kind of collateral do debt consolidators usually require?

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It varies from company to company, but typically a debtor will offer his or her home or car as collateral for the debt consolidation loan. This allows for the debt consolidation company to offer the debtor a much lower interest rate, because the lender is taking less risk, because the loan is back up by assets.