Millions of Americans are struggling with personal-loan debt. Last year, 26.4 million borrowers held $275 billion in debt.
But refinancing your loans can help. For example, one Los Angeles client used a personal loan to pay off credit-card debt with high interest rates, saving them from being stuck in a cycle of debt.
A certified financial planner helped the client create a structured payment plan, which gave them discipline and saved them money on interest.
Source: https://www.marketwatch.com/story/these-increasingly-popular-loans-can-save-you-thousands-of-dollars-in-interest-or-double-your-debt-heres-when-they-work-79649449