Collateral: Before deciding to choose between a secured or an unsecured loan you need to understand that if you default on your payments the collateral will cover for the loan. This also means that it will be taken from you. Just like defaulting on a mortgage will cause you to lose your house, the same applies to whatever type of collateral you will be giving. You need to understand if you are willing to take the risk of losing your house or even your 401K if you are using money as collateral. If a default occurs you might end up in a deeper hole that you were before.
Paying debt to get into more debt: A consolidated loan will always be larger than the first loans, the reason for this is that you are not only paying for the principal of the initial loans but also their entire interest base. This means that you are actually borrowing money to pay interest, and now you will have to pay interest on those interests as well. It might sound complicated but in synthesis, you should never borrow money to pay for interests, this is just a perfect example of how to complicate your life.