Loans

All You Need to Know about Unsecured Loan
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All You Need to Know about Unsecured Loan

Unsecured loans are available from banks, credit unions, and online lenders. Unlike secured loans, they don’t require collateral, making them harder to get approved for. However, they carry less risk since there’s no threat of asset seizure if you default on the payments. Most installment loans fall into the unsecured category, including student loans, personal […]

How Nurses Can Get Student Loan Forgiveness
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How Nurses Can Get Student Loan Forgiveness

You likely chose to become a nurse due to your passion for science and your desire to help others. Or maybe you’re currently exploring nursing schools with a career in mind. Unfortunately, nursing education can be quite expensive. Costs can range from $4,000 for an associate degree in nursing to over $150,000 for an advanced […]

When are Car Interest Rates Going Down?
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When are Car Interest Rates Going Down?

Rising interest rates have affected nearly every aspect of the economy, from grocery prices to loan costs. While the Federal Reserve paused increasing the federal funds rate at its June meeting, rates have climbed a total of 11 times during this economic cycle. As the summer car-buying season approaches, it’s essential to understand how these […]

All You Need to Know about Student Loan Default
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All You Need to Know about Student Loan Default

Student loan default arises when a borrower fails to adhere to the repayment terms outlined in their loan agreement. The specific timeline for default depends on whether the loans are federal or private. Defaulting on a student loan carries significant repercussions. The entire loan balance may become due immediately, and options like forbearance and deferment […]

How to Pay Off a Personal Loan Faster
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How to Pay Off a Personal Loan Faster

There are various strategies you can employ to accelerate the repayment of a personal loan, such as making additional payments or taking on extra work. By doing so, you could potentially save a significant amount of money on interest payments over the loan term, particularly if you’re dealing with a high-rate bad credit personal loan. […]

The Typical Credit Score for Personal Loans
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The Typical Credit Score for Personal Loans

To be eligible for a personal loan, applicants typically require a minimum credit score of at least 580, although some lenders may have lower thresholds. However, individuals with a credit score of 740 and above, categorized as “very good” or “excellent,” stand a better chance of securing a low-interest rate on their personal loan. As […]

All You Need to Know about Recourse Loan
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All You Need to Know about Recourse Loan

For lenders, minimizing risk is a crucial aspect of business. This is why larger loans come with stringent requirements and why applicants with reliable profiles receive the best interest rates. To further mitigate risk, some lenders offer recourse loans. Recourse loans grant the lender the authority to seize multiple assets from the borrower if the […]

8 Personal Loan Types: What to Use and What Not to
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8 Personal Loan Types: What to Use and What Not to

Secured and unsecured personal loans can be obtained from banks, credit unions, or online lenders, and they serve a variety of purposes. If you’re thinking about taking out a personal loan to overcome a financial challenge or consolidate debt, you’re in good company. A recent Experian study revealed that the average consumer holds about $19,402 […]

5 Tips to Get a $100,000 Personal Loan
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5 Tips to Get a $100,000 Personal Loan

Securing a $100,000 personal loan with optimal rates and terms necessitates excellent credit, a substantial income, and selecting the right lender. Not all personal loan providers extend six-figure loan amounts, and those that do often reserve such sizable sums for borrowers with impeccable financial backgrounds. While a $100k personal loan presents an attractive alternative to […]