Better Credit Blog

JUNE 1, 2022

Borrowing money costs more when you have bad credit — and your choices for a loan will be limited — which is why we have helped you narrow down your list by finding the top 6 best personal loans for bad credit. Use this time to fix your credit before applying for loans. 6 Best Personal Loans for Bad Credit.

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Better Credit Blog

APRIL 2, 2022

Whether you’re making a big purchase or just refinancing some existing debt, a personal loan could help. But comparing loan options could take days — unless you use an online marketplace like Fiona which lets you compare personal loan offers side by side within minutes. How Fiona Loans Work.

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Credit Corp

MARCH 12, 2025

Whether you are facing unexpected costs or you simply need extra financial support, personal loans are a viable option that many people rely on. adults have an unsecured personal loan as of the third quarter of 2024. So, you’re not alone in wondering how to apply for a personal loan.

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Better Credit Blog

APRIL 1, 2022

The best personal loans charge low fees and low fixed interest rates, have flexible loan amounts and terms, and have no prepayment penalties. A personal loan could let you access cash for any purpose. Since personal loans are unsecured, you’ll need an excellent credit score to get the best deal.

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Credit Corp

MAY 1, 2024

Paying off a credit card with a personal loan can offer the advantage of potentially lower interest rates, saving money on interest charges over time. However, the personal loan could come with origination fees or other charges that should be carefully considered. What Is a Personal Loan?

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Sawin & Shea

FEBRUARY 28, 2024

When filing for bankruptcy, you can discharge certain types of personal loans, meaning that you’re no longer legally responsible for paying off the debt. If you’re considering filing for bankruptcy, you need to know what personal loans you can discharge and which filing method suits your financial situation.

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Credit Corp

JANUARY 24, 2024

A personal loan enables you to borrow a lump sum of money and repay it in fixed installments. While personal loans can be a useful tool, there are important factors to consider before taking one out. According to recent statistics , millions of Americans have personal loan debt, with the average loan amount being $16,931.

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Sawin & Shea

JUNE 16, 2021

How to obtain a personal loan: Get a copy of your credit reports (Equifax, Experian, and TransUnion). You will need pay stubs, bank statements, and tax returns to prove this to your potential lender. Prequalify through several lenders. Compare the loan offers by examining such things as the APRs, fees, and loan terms.

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Better Credit Blog

APRIL 1, 2022

If you need money now, an online personal loan can be a fast and easy way to secure funds. Whether they’re for debt consolidation, a home improvement project, or other expenses, these loans often come with low-interest rates and flexible repayment options. Ad If you're struggling to make ends meet, a Personal Loan can help.

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Sawin & Shea

JULY 6, 2022

A personal guarantee loan is a signed agreement stating that you’re liable for a debt. For example, you may sign a personal guarantee to secure a loan for your business, and if you fail to make payments, the lender can go after both the business and your personal funds because you’re liable through the written agreement.

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Debt Guru

JULY 19, 2020

It works by getting one new loan and using that to pay off multiple existing creditors. You pay off multiple types of loans and credit card balances with your new consolidation loan, and you’re left with a single monthly payment to the new lender. The difference is that unsecured debts are not backed by collateral.

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Credit Corp

SEPTEMBER 16, 2020

These loans often have low interest rates and are accessible to those with poor or nonexistent credit. That’s because you provide all of the collateral for the loan in cash, so it’s not a risk for the lender. You build credit as you pay down the loan, and you can access your balance once the loan is paid off.

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Nerd Wallet

JUNE 22, 2021

A signature loan is a fixed-rate, unsecured personal loan offered by an online lender, bank or credit union. It’s called a signature loan because it’s secured by your signature instead of collateral, like a car or an investment account. The best way to. Jackie Veling writes for NerdWallet.

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Credit Corp

AUGUST 24, 2021

What Are Vacation Loan Alternatives? What Is a Vacation Loan? A vacation loan is a personal loan borrowers use to pay for transportation, hotels, and other vacation-related expenses. Typically vacation loans require no collateral and should get paid in fixed, once-a-month payments.

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Debt Guru

MARCH 6, 2020

Use the same formula that lenders rely on when evaluating a loan application. The result is a percentage that determines your creditworthiness – in short, if lenders believe you’ll be able to repay the loan. Keep in mind that your ratio typically excludes mortgage and student loans.

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Credit Corp

SEPTEMBER 13, 2023

One reason that lenders look at credit mix is to make sure that you can be responsible with multiple types of credit. Showing that you can handle different types of credit—and multiple credit accounts at once—indicates financial reliability to potential lenders. You are not required to pay the loan in full each month.

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Credit Corp

APRIL 19, 2023

You don’t want to spend too much and go over your utilization rate, but if you don’t use it regularly enough, the lender may close your account. This makes it very low-risk for the lender, as your payments are also adding your collateral to the savings account. The solution is to use your card to make regular, small purchases.

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Qualco

APRIL 15, 2024

Its scalability and preconfigured settings enable lenders to refine their collection strategies and enhance operational efficiency, establishing the QCR Accelerator as a vital tool for meeting a wide array of needs while ensuring fast ROI and lower implementation costs.

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Credit Corp

OCTOBER 25, 2023

While it is possible to get a loan with no credit through some lenders, you may face high interest rates and unfavorable terms. Luckily, there are alternative ways to get a loan with no credit history. Table of Contents: What Is a No-Credit-Check Loan? Continue reading to discover how to get a loan with no credit score.

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Debt Free Colorado

DECEMBER 9, 2021

The lender protects the borrower against foreclosure. Unsecured debt is debt without collateral. Collateral guarantees debt repayment. A mortgage or car loan secures the lender’s interest in your house. personal loans, personal loans, delinquent income tax obligations, .

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Credit Corp

JANUARY 24, 2024

Credit cards can take several days, loans can range from days to weeks, and mortgages can take weeks to a month. Lenders consider multiple factors when you apply for loans and credit cards , including your credit score and current finances. How Do I Apply for a Loan? What Are the 5 C’s of Credit Approval?

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Sawin & Shea

JANUARY 25, 2022

Secured debts are a type of debt backed by an asset that is used as collateral. For example, when you take out a home loan, you will be required to sign a mortgage which grants the lender a lien, or security interest against your home should you fall behind on payments. What is Secured Debt? Examples of Unsecured Debts.

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Sawin & Shea

NOVEMBER 15, 2023

In broad terms, if a debt is secured, it means it is backed up by collateral property. If a debt is unsecured, no collateral is put up as a guarantee to pay. However, it is important to note that before bankruptcy is declared, lenders can still come after you to get you to pay off the unsecured debt.

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Credit Corp

MAY 30, 2021

There are many types of loans for a variety of purposes, but it’s always critical to consider certain key criteria in detail before making any final decisions. Even a few small differences between lenders and the loans that they’re offering can have an impact on your finances. Maintain a Good Credit Rating.

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Credit Corp

JANUARY 24, 2024

Most credit builder loan repayment terms range between 6 and 24 months. How Do Credit Builder Loans Work? Credit builder loans work differently than regular loans. You gain access to your money after you make your final loan payment. How Are Credit Builder Loans Managed?

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Sawin & Shea

AUGUST 9, 2023

Briefly, unsecured debts are not backed by any collateral and include things like credit card balances and unpaid medical bills. Creditors cannot reclaim any of your property if you default on a loan. However, secured debt means the borrower has put up collateral (e.g. When Should I Consider Declaring Bankruptcy?

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Sawin & Shea

MARCH 13, 2024

Entering a reaffirmation agreement is a way that debtors in a Chapter 7 bankruptcy keep collateral attached to secured debt like houses or cars. All of the original terms of the loan are back in force, including the creditor’s right to repossess the collateral if you get behind on payments in the future.

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Sawin & Shea

JUNE 7, 2023

Obtaining Personal Loans with a Cosigner Having a co-signer on a personal loan or credit card means that you associate another individual with your debt. It’s often necessary for risky or low-credit borrowers to have a co-signer in order to secure a loan or another form of debt. Considering Filing for Bankruptcy?

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Payment Savvy

JULY 21, 2023

Building a successful startup comes with its fair share of challenges, chief amongst them being the search for loans and funding. While chasing that dream investment, startups often face a tough time trying to secure loans, primarily due to minimal or no revenue. This can make it easier to justify the loan to yourself and the lender.

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Better Credit Blog

MAY 4, 2022

These include transferring all your debt onto just one credit card as well as taking out a secured or unsecured personal loan—perhaps with the help of a professional debt consolidation company. You can combine credit card debt, car finance, personal loans, student loans, medical bills, payday loans, and other types of unsecured debt.

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Sawin & Shea

MAY 2, 2024

If you qualify for Chapter 7 bankruptcy, our attorneys can guide you through the process of eliminating unsecured debts, such as credit card balances, medical expenses, and personal loans, within a matter of months. With secured debts, your creditors have the right to seize the collateral property if you default on payments.

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Debt Free Colorado

DECEMBER 23, 2024

Unsecured debt is a type of debt that is not backed by collateral. Credit cards, medical bills, and personal loans make up most unsecured debt that bankruptcy can eliminate. These debts have no collateral, so creditors cannot take your property without going to court first. This means there is no property tied to it.

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Better Credit Blog

AUGUST 9, 2021

Whereas rates on credit cards can be 13-25%, average rates on personal loans are 14-18%,” says Toms. Other factors to consider include: Fees: Some lenders will charge what is called an Origination Fee, usually as a percentage of the amount owed, often around 1% to 5%. Best Debt Consolidation Loans. Lending Tree.

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Better Credit Blog

AUGUST 9, 2021

Whereas rates on credit cards can be 13-25%, average rates on personal loans are 14-18%,” says Toms. Other factors to consider include: Fees: Some lenders will charge what is called an Origination Fee, usually as a percentage of the amount owed, often around 1% to 5%. Best Debt Consolidation Loans. Lending Tree.

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Credit Corp

OCTOBER 25, 2023

Credit Card Consolidation Loans A credit consolidation loan is a type of unsecured personal loan that comes with a set repayment period and fixed monthly payments. For a credit card consolidation loan to make sense, the interest rate needs to be lower than the interest rate for your credit cards.

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Better Credit Blog

OCTOBER 6, 2021

The reason your credit score, or your FICO score as it’s known in the financial industry, is so important is that mortgage lenders will use it to determine how much of a risk it is to lend to you, based on your history of paying your bills on time and other factors. ” Mortgage Rates for Spouses.

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Sawin & Shea

MARCH 7, 2023

This includes debts such as credit card balances, medical bills, personal loans, utility bills, back rent, mortgages, and car payments. However, if you used your home or car as a secured debt with a lender, you may need to return the property to the lender if you don’t pay as agreed.

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