What is the difference between consolidation program and loan?

Is there any major difference between the debt consolidation program and consolidation loan? Are they the same thing? Do I need to pledge collateral for both?

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If you go for a secured consolidation loan, then you'll have to pledge collateral against it. In cse of a consolidation program, you won't be required to pledge any collateral.

In case of debt consolidation program, all your unsecured bills are consolidated into a single low monthly payment plan. On the other hand, in case of a consolidation loan, all your unsecured bills are consolidated into a single low interest loan. 


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