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Why Using A Personal Loan For Debt Consolidation May Be the Best Choice

Posted by Carolina Trust Federal Credit Union on Jul 16, 2021 9:30:00 AM

American consumer debt reportedly exceeds $14 trillion, and it seems individuals accumulate more — not less — as they get older. Recent data points to a troubling trend that often puts hard-working people in a difficult financial position. Responsible people in these age groups reportedly take on sometimes onerous debt and struggle to get relief.

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Topics: Personal Finance, Debt Consolidation, Personal Loans

The Pros and Cons of Unsecured Loans

Posted by Carolina Trust Federal Credit Union on Jul 15, 2021 12:00:00 PM

There are a variety of different types of loans available to borrowers today. Unfortunately, since the circumstances and individual consumer need varies so greatly – there is not a one size fits all solution when it comes to unsecured loans.

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Topics: Personal Finance, Personal Loans

3 Ways Personal Loans Can Improve Your Credit Score

Posted by Carolina Trust Federal Credit Union on Jul 14, 2021 10:00:00 AM

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.

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Topics: Personal Finance, Credit Building, Personal Loans

Bad Credit Loans: How to Avoid a Scam

Posted by Carolina Trust Federal Credit Union on Jul 13, 2021 10:15:00 AM

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.

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Topics: Personal Finance, Credit Building, Personal Loans

Personal Loans vs. Payday Loans: What’s the Difference

Posted by Carolina Trust Federal Credit Union on Jul 12, 2021 10:00:00 AM

At some point in their lives, most people will need to borrow money. And while some have a friend or family member who is willing and able to lend the necessary sum, this isn't always the case. Furthermore, racking up credit card debt or using the equity in your home by putting another mortgage on the house are not always viable options.

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Topics: Personal Finance, Personal Loans

Carolina Trust Federal Credit Union Blog 

Welcome to the Carolina Trust Federal Credit Union Blog! We're excited to share financial tips and information for a variety of different topics.

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Check out recent blog posts by our Brand Ambassador, August, for tips on achieving financial success in the bag. 

 

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