What Does it Mean to Default on a Personal Loan?

Before we get into 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 Federal … Continue reading What Does it Mean to Default on a Personal Loan?