They are Term Life and Permanent or Whole Life
They are Term Life and Permanent or Whole Life. The interest rates in a consumer debt consolidation program tend to be very low to make it a much more plausible option than paying very high creditcard interest rates. However when you are making smaller purchases, say clothing or household products, then the use of a credit card may not be the best use of your money searching for a suitable personal loan would most likely result in better shortterm rates and the avoidance of penalties such as those imposed on the one in five people surveyed by Defaqto and MoneyExpert.