Personal loans are a useful tool for paying off or consolidating higher-interest debt. But what if personal loan rates have come down significantly since you borrowed initially? Fortunately, refinancing your personal loan could be an option. This step might earn you a lower rate, a term that works better for your situation, or even a reduction in your monthly payments. Here’s what to know about personal loan refinancing, when it might make sense, and when to skip it. How does personal loan refinancing ...