Consumers whose debt burden has become very heavy might apply for:
A)a personal loan.
B)a single-payment loan.
C)a buy-down loan.
D)a consolidation loan.
E)a standard loan.

Question

Quizplus · Accepted Answer

A consolidation loan is the best option for consumers whose debt burden has become very heavy. This type of loan combines multiple debts into a single, larger loan with a lower interest rate and more manageable repayment schedule. It can help simplify a complicated financial situation and potentially reduce the total amount of interest paid over time. Personal loans, single-payment loans, buy-down loans, and standard loans may not offer the same benefits as a consolidation loan in this scenario.

Consumers Whose Debt Burden Has Become Very Heavy Might Apply