Category Archives: Uncategorized

In times of economic downturn many people who need cash feel that their 401(k) is their money so borrowing from it is a better option than personal loans. However, this may not be the best idea. In fact, it could be financially unsound and carry problems long into the future. Borrowing from a 401(k) When […]

Personal loans are used to pay anything from an emergency room visit, to car repair, or even buy groceries when money is tight. In fact, most people will require a personal loan at some point. It is not unusual for people to take out several personal loans throughout their life, but when do they become […]

If you have ever gone into a bank seeking a personal loan, you just may be shocked to hear about how banks deal with personal loans. While banks deal with all kinds of loans including secured loans, unsecured loans, revolving credit (i.e. credit card), mortgage loans, auto loans and more; the unsecured personal loan is […]

Debt consolidation loans sound like a great idea. After all, you get to reduce all your personal loans into one big loan. Your credit report shows that you have paid off all you previous loans and only have one loan out. Additionally, your revolving credit is paid off and that raises your limit on the […]

There’s a big difference between debt consolidation and debt settlement. Unfortunately, when newspapers run stories listing the misdeeds of debt settlement firms, the average consumer doesn’t make the distinction. Consumers instead lump debt consolidation companies and debt settlement firms into the same category of companies that can’t be trusted. Such is the case with the […]

Personal loans come with a higher interest rate than secured loans, because the very nature of the loans does not give the lender any assurance you will repay. Therefore, banks need to charge a higher interest rate to cover their losses for those who do not pay back the personal loan. That being said, it […]

Two people making the same income, walk into the same bank, wanting the same amount for personal loans. While they both get the loans they were seeking, one gets a much better interest rate and thus gets a much better deal. Why Do Some People Get Better Rates Than Others? First, there is no law […]

In a sign that fewer consumers are heading for debt consolidation loans, credit card charge-offs fell in April, according to a report from Moody’s Investors Services. Charge-offs are credit card balances that the card issuers have written off as being uncollectable. When the number of these falls, it’s a sign that consumers are not falling […]

Between personal loans, auto loans, credit cards and mortgage loans, it is virtually impossible to live a debt free life. Almost everyone will borrow money for something at one point or another in their lives. That means debt will inevitably be in our lives. Despite the bad rap debt has received, there is such a […]

When college students immediately have to worry about debt consolidation upon graduation, who suffers? The students, obviously, have a lot to worry about. But what about the colleges themselves? And, looking far into the future, what about the rest of society? Who knows how many talented doctors or attorneys we’ll lose out on as the […]