This is question that a few people have been asking recently and the truth is most financial institutions offer unsecured loans, but the question should be do you want an unsecured loan or can you get an unsecured loan.Unsecured loans, sometimes referred to as signature loans, are available, but at what price? Most loans of any amount exceeding $1500 are secured with collateral, which is either your home and or possibly your car. There are two things you should know when it comes to unsecured loans. First, they require excellent credit and secondly, they normally come with a higher interest rate because the bank is taking a bigger risk by lender money without collateral backing.If you are trying to consolidate debt, your best option is probably not going to be a loan. You are just moving the debt around. In order to start seeing it decrease, you will have to reduce your expenses and/or increase your income. Debt consolidation loans have a lower interest rate than most credit cards, but in most cases they spread out over 15 years or more. This will give you a lower payment, but more interest because you are taking longer to pay off the loan. Time is money and this is no different.For most people debt counseling or debt settlement are better debt relief options. They do not involve a loan and it should take you no longer than 7 years to pay off your debt and could take as little as 3 years. Both of these options are better than another loan. It is borrowing money that has caused you to seek debt relief. Another loan is not going to solve the problem.There are a number of companies that specialize in evaluating your debt and telling you whether debt settlement or credit counseling better suits your financial needs. And from there, your debt management organization will set you up with a debt management plan that helps you begin paying off your debt.When you have debt that is consuming you it is important that you do not delay in making a debt relief decision. The longer you put off managing your debt, the worse it gets and your options will become limited. Even if you are making minimum payment, but see no end in sight, it would be a good idea to evaluate your debt relief options to see what the possibilities are.