Debt is a major problem which not only hampers the credit status but also puts bad effect on the mental health of a person. But, what a person is needed to do when he is burdened with debts. It is sure that increasing burden of debts will make worst his credit position. So, it’s better to overcome such situation, by availing secured debt consolidation loan.In secured debt consolidation loan, the borrower is needed to place asset as collateral. Though, debt consolidation loan can also be availed without placing any collateral against the loan amount which is termed as unsecured debt consolidation loan in the financial market. But, still the borrower is suggested that he must go for secured debt consolidation loan as it offers low rates and flexible repayment period.Negotiation forms a crucial part of secured debt consolidation loan. The lender providing secured debt consolidation loan negotiates with the creditors of the borrower and insist them to reduce some amount of payment. In debt consolidation loan, the lender makes payment to all creditors of the borrower. And, finally the borrower is left with the single monthly payment to the lender (as his all creditors are paid off by the lender).Secured debt consolidation loan is regarded as the means to handle and control debts. And, it is also true that the borrower will become debt free in a single go but along that he is also needed to take certain measure that he doesn’t get in such situation again. However, this is only possible by controlling the spending habit and limiting the use of credit cards.Therefore, it is easy to become debt free by availing secured debt consolidation loan.