When hard-working community members suffer financial hardships or lack cash-on-hand resources, Personal Loans remain a go-to solution. Personal Loans, also known as Unsecured Loans, can be put to work resolving the little curves life throws at all of us. But one of the things that makes some responsible people apprehensive about applying is that they believe a loan could lower their credit score. When the repayment process is managed well, taking out a Personal Loan can actually improve your credit score. If that seems counterintuitive, consider the following.
Nearly everyone has a credit history and a credit score. Whether yours is poor, fair, good, very good, or excellent is based on a myriad of factors — from how much debt you have and your debt to available credit ratio, to how diverse your debt is and how often you pay your bills on time.
If you are dreaming of owning a home of your own, but are intimated by the home-buying process, don’t be! While there is a lot of paperwork and verification involved, it really is not as difficult as you may think. In fact, if you work with the right team of real estate professionals, including an experienced realtor and a reputable credit union or bank, the home-buying process is really a breeze!
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.
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.
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.