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Tag: consumer loan

How Does A Personal Loan Effect Your Credit?

Do Personal Loans affect your Tax Return?

Many people use personal loans to suit a wide variety of different needs. Some people use them to pay off debt, fund a vacation, or even pay for car repairs. There are many uses of personal loans, which you can easily see if you ever try to get one. This is why the right question ...

How Does Peer-to-peer Lending Work?

When you think of crowdfunding, you probably think of an entrepreneur gaining funding for a business or an individual gathering funds for a medical bill. You, too, can crowdfund though. That’s what peer-to-peer lending means. You either loan money along with a number of other individuals, then earn from the interest the borrower pays, or ...

How to Avoid Defaulting on a Personal Loan?

Thinking about a personal loan? Before you do, make sure you read this entire article know all the facts. There could be a ton of reasons why you might need a personal loan. It could be for something new and exciting like a car or vacation. It could also be for some unplanned emergency expense that ...

Including a Personal Loan Payment in Your Budget

Most of us have considered taking out a personal loan for one reason or another. We may have a big expense to cover like a wedding, a new car, or even the birth of a child. The loan itself is usually not the point of concern for most people, however. Most people wonder how they will ...
How to Get Pre-qualified for a Personal Loan?

How to Get Pre-qualified for a Personal Loan?

Everyone comes to a point in their lives when he or she needs a loan. It is impossible to own things without having to borrow money in some way. That may be a mortgage for a house, a loan for a car, or credit cards. These are all basically loans. I know finances can be ...

What Factors Do Lenders Use for Personal Loans?

There comes a time in all of our lives when we need a personal loan. The reasons can vary from fixing a car repair and needing help with rent to unexpected medical expenses. Personal loans go by many different names, from a consumer loan to an unsecured loan and many other names. The different names and ...

Common Loan Definitions and Related Terms: Lending 101

The Merriam Webster dictionary defines a loan as a temporary lending of money to an individual or organization with an interest rate attached. Of course, while the dictionary makes it sound simple, loans are a little complicated. An Abridged Dictionary of Loan Terms and Definitions When you begin looking for a loan, you hear a ...
Default on a Personal Loan

What Does it Mean to Default on a Personal Loan?

Before we get into the the meaning of a default on a personal loan, let’s look at the numbers. It’s rare to find a business default on its loans, but in 2018 less than one percent did. Consumer loans or personal loans, on the other hand, is currently at a 3.63 percent default rate. The ...
Establish Credit History

How to Establish Credit History When You Have No Credit History?

Young adults and students are often frustrated by the problem of having no credit. It seems unfair, but almost every business or service requires a good credit rating before you can purchase their goods or services. Up to a few years ago, the young and students had no recourse but to use Mom’s and Dad’s ...
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