Remember there are many other ways to consolidate and/or eliminate debt without having to secure a loan using your property and risk losing it! Sometimes, debt consolidation companies can discount the amount of your loan. When the debtor faces any possibility of bankruptcy, a loan consolidator will buy the loan at a discount. But be careful, this type of consolidation can affect your ability to discharge debts in bankruptcy.

Originally posted here:
One of the Biggest Mistakes That Can Be Made While Consolidating Your Debt