Debt loans are loans issued to an individual with the express purpose of paying off a debt. Although most people immediately think "second mortgage", there are many kinds of debt loans. Imagine (maybe you don’t have to imagine?) you purchased a gym membership and signed a contract but then defaulted on the contract. The gym called you for a few months and then turned the debt over to a debt collection agency. Now, the harassing phone calls are constant and they somehow got your work number. You’ve decided to pay off the debt, but you don’t have the $1,400 on hand. So you go to the credit union and take out a $1,400 signature loan to pay off the collection agency. You’ve just secured a debt loan.