Such loans can reduce the burden of interest on the outstanding balance. Another would be a balance transfer, whereby one transfers the debt to a credit card with a lower interest rate. It is always advisable to seek the advice of a financial consultant for similar decisions to ascertain whether it suits one's financial plans.Such loans can reduce the burden of interest on the outstanding balance. Another would be a balance transfer, whereby one transfers the debt to a credit card with a lower interest rate. It is always advisable to seek the advice of a financial consultant for similar decisions to ascertain whether it suits one's financial plans.Such loans can reduce the burden of interest on the outstanding balance. Another would be a balance transfer, whereby one transfers the debt to a credit card with a lower interest rate. It is always advisable to seek the advice of a financial consultant for similar decisions to ascertain whether it suits one's financial plans.