An unsecured debt consolidation loan is a loan that you take to consolidate your multiple debts into one loan but do not offer any collateral for the loan. (credit-counselling.org)
So, if your credit is bad and you still want to apply for personal loan, you can increase your chance of being considered by offering collateral. (myfinancekits.com)
Secured loans offer collateral which the lender can seize should the borrower default. (badcreditloanservices.com)