Personal loans work differently than other forms of consumer debt, such as credit cards or auto loans. Personal loans are usually unsecured funds that a bank, credit union, or other financial institution lends you. The terms are usually between two and seven years, depending on the loan size. Interest rates vary and depend largely on […]
Personal loans can be an excellent tool to help you consolidate debt, make a large purchase, manage a financial emergency, and more. But depending on the lender you choose, your costs may not be limited to the principal and interest on the loan. Even some of the best personal loan lenders charge fees on their […]
Taking out a personal loan is a common way to get money to pay down high-interest credit card debt or finance large home-improvement projects. In the first quarter of 2022, more than 20 million Americans owed money on personal loans, credit-reporting agency TransUnion reports. Balances on those personal loans totaled $178 billion — a modest […]
Emergency expenses are bound to pop up every once in a while. If you don’t have the cash to pay for them upfront, emergency loans can come in handy. In most cases, they’re personal loans that offer an easy application process and fast funding. Let’s take a closer look at how emergency loans work, the […]
Bad credit can sneak up on you slowly. Perhaps you miss a few bills or run up large debts on your credit cards. At first, you might not notice the damage these mistakes are causing to your credit. But eventually, bad credit will make its presence felt. And when it does, it can create stress […]
