Head and shoulders above the crowd, with a striking gold comb and a proud strut, Chauncey is easily distinguishable among the array of students, faculty and staff at Coastal Carolina University. As if his distinct look is not eye-catching enough, his fiercely loyal and fun-loving personality has a magnetic effect on all of those who meet him.

The economic impact of COVID-19 on our country has left many individuals facing job loss or furlough. Even those who have remained employed are facing concerns about paying bills and affording daily necessities due to cutbacks or reduced hours. If you've lost your job, been furloughed, or had your hours cut as a result of COVID-19, you may qualify for unemployment.

We know that you may be getting a little stir crazy, as most of the country is operating under a mandatory Stay-At-Home Order. While kids are out of school and parents are working from home, it's easy to run out of fun activities and allow isolation to get the best of you. Carolina Trust has put together a list of fun activities to do with your kids while you’re stuck at home together.

Small businesses in our area are already starting to feel the economic impact of COVID-19. With many individuals taking refuge within their homes from the virus, it leaves small business owners with a lot of uncertainty about how they will keep their business afloat and provide for themselves and their families. 

How Does a Home Equity Loan Work?

If you’re looking for a way to deal with debt that is both flexible and affordable, a home equity loan may be a good solution. For homeowners who have built up some equity in their homes, this type of loan allows them to borrow from the accumulated equity and use it to pay down high-interest debt. Here’s a closer look at how home equity loans work, and when they work well for debt consolidation.

If you want to save money and make some progress paying off the bills and other debt you owe, you should consider accessing the equity in your home for a debt consolidation loan to achieve your goal of being debt free.

The two main ways to access the equity in your home for a debt consolidation loan from your credit union include a home equity loan and a home equity line of credit, better known as a HELOC. Below are some of the details of a home equity loan vs HELOC so you can see the pros and cons of each.

Securing a debt consolidation loan and paying down your obligation can fast-track you to an improved credit rating and financial stability. But success requires personal vigilance and fiscal responsibility.

When hard-working people find themselves swimming in high-interest debt, it’s time to look for a lifeline and pull yourself out. Leveraging your home equity to consolidate monthly payments that are crushing your financial health and quality of life can be a game-changing solution.

Life happens, and along with it often comes debt…and you know what? That’s ok! Whether we have debt in the form of student loans, medical bills, an emergency of some sort that had to be financed, or too much spent on credit cards - we have all had our share of debt to repay.

5 Tips to Relieve Your Debt and Stress

The average debt load for Americans, including mortgages and car loans, is $132,529. Of that, over $16,000 is tied up in credit cards. All of this debt contributes to a high level of stress for many families.