Advice & Expertise Blog

Loans

1. 

   Avoid High-Interest Loans: Look for Lower Interest Rate Options

   Amanda Peterson July 10, 2024  •  2 Minute Read

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   This Wise Spend Wednesday, look into smart ways to avoid high-interest loans by exploring lower interest rate options like personal loans, credit unions, and 0% APR credit cards. Save money and reduce financial stress with these practical tips from CreditSoup!

2. 

   How to Afford Home Improvement Projects

   Amanda Peterson January 18, 2024  •  1 Minute Read

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   CreditSoup has 3 ways to spruce up your space and tackle your projects affordably. Thrifty Thursday this week talks about DIY-ing your home improvements and how to afford them.

3. 

   Understanding the Need for Home Improvement

   Amanda Peterson January 15, 2024  •  2 Minute Read

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   Home improvement projects go beyond aesthetics; they enhance the functionality and value of your dwelling. However, funding these projects is a challenge many face. CreditSoup explains.

4. 

   Why You Should Refinance Your Car Loan

   Kat Tretina September 7, 2023  •  3 Minute Read

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   Having less-than-stellar credit, a car loan can be expensive. If you have purchased a car with a high-interest loan and your financial situation has improved since then, you might be able to save money. Here’s what you need to know about refinancing and how to decide whether or not it’s right for you.

5. 

   The Basics You Need to Know About Student Aid

   CreditSoup Staff July 21, 2023  •  7 Minute Read

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   Applying for college is a long and challenging process, so it's no surprise that students often fail to take advantage of free money available to them. There are essay's to do and government forms to fill out. But thankfully, there are many ways to access these opportunities to leave them with less school debt.

6. 

   7 Debt Consolidation Truths You Need to Know

   Holly Johnson July 18, 2023  •  4 Minute Read

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   If you are someone who can’t seem to stop racking up more credit card debt, a debt consolidation loan may be exactly what you need. Before you start shopping around for another loan, here’s everything you need to know.

7. 

   3 Smart Reasons to Take Out a Personal Loan

   Kat Tretina June 2, 2023  •  3 Minute Read

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   Personal loans are a popular way to borrow because they’re typically easy to get and don’t require any collateral. To help you determine whether you’re right to consider a personal loan, we’ll cover three good reasons to apply for a personal loan, and also a few bad ones.

8. 

   Possible Loan Option for You

   Erin Benson May 15, 2023  •  2 Minute Read

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   Personal loans can be used for almost anything, but it makes the most sense to take out a loan if it is your best option to finance. Possible Finance is newer to the short-term loan/personal loan space, and it provides its members with flexible and safe loan options. Their mission is to help you and your community break the debt cycle and unlock economic mobility for generations to come. The payday loan alternative with a fair repayment plan.

9. 

   Co-signers and Personal Loans: What You Need to Know

   Kat Tretina May 14, 2023  •  3 Minute Read

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   If you have high-interest credit card debt or need money to pay for an unexpected car repair, taking out a personal loan can be a smart strategy. However, it can be difficult to qualify for a loan — and to score a low interest rate — if your credit score isn’t excellent.

10. 

    Unsecured vs. Secured Loans: What's the Difference?

    Kat Tretina May 4, 2023  •  3 Minute Read

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    Taking out a personal loan can help you pay for necessary repairs or major purchases. If you’re thinking of applying for a loan, you may have come across the terms “unsecured” and “secured.” But what’s the difference?

11. 

    How to Get a Car Loan with Bad Credit

    Kat Tretina April 27, 2023  •  3 Minute Read

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    If you’re new to credit or are trying to rebuild, getting an auto loan can be difficult. Even though auto loans are secured by the car itself, many auto lenders are uneasy about lending to someone with a poor track record.

12. 

    Car Refinancing Made Easy, Smart and Safe!

    Erin Benson February 28, 2023  •  1 Minute Read

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    Refinancing your car means you are replacing your current auto loan with a new one. Just like any other refinancing, that new loan will pay off your original loan and you start to make payments on the new loan. Everyone’s situation is different. iLending is a great start.

13. 

    Pros and Cons of Debt Consolidation Loans

    Kat Tretina February 1, 2023  •  3 Minute Read

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    If you’re determined to pay off your debt as quickly as possible, taking out a debt consolidation loan can make a lot of sense. Here’s what you need to know about the pros and cons of this strategy.

14. 

    Using a Personal Loan for Medical Procedures

    Kat Tretina January 23, 2023  •  3 Minute Read

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    Medical loans are a form of a personal loan. They’re specifically designed to pay for medical expenses, including essential or elective procedures. They’re unsecured, meaning you don’t have to put up any property as collateral, and they can even be used to cover the cost of your deductible or out-of-network fees.

15. 

    How and Why to Get a Car Loan Before Going to the Dealership

    Kat Tretina November 6, 2022  •  3 Minute Read

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    Before you even begin looking for auto loans, there are a couple of steps you can take to simplify the process and make it more stress-free. Check out these 5 ways you can plan ahead and save a ton of time further down the line.

16. 

    Should I Get a Holiday Loan

    Kat Tretina October 31, 2022  •  3 Minute Read

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    While it’s a festive and cheery time of the year, it’s also expensive. Many people don’t have the kind of money saved in their bank accounts, leaving them scrambling to pay for holiday expenses. If that’s the case for you, you might be considering using a credit card to finance your purchases. But there may be another option that’s a better choice: a holiday loan.

17. 

    5 Reasons Why You Should Never Take a 401(k) Loan

    Kat Tretina October 28, 2022  •  3 Minute Read

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    When you need cash for a downpayment on a home or when you hit a financial emergency, your retirement nest egg can look pretty appealing. You might have thousands stashed away in a 401(k), so when you need money quickly, taking a loan from your own account can be tempting.

18. 

    3 Key Steps for the Car Buying Process

    Kirsten Thuringer September 21, 2022  •  1 Minute Read

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    In the car buying world there can be a lot of things that can go wrong. That is unless you take certain steps that, if followed, will hopefully result in a great experience. To help make your car buying experience a little easier, take a look at these following tips.

19. 

    How to Get a Great Rate on a Car Loan

    Kat Tretina August 9, 2022  •  4 Minute Read

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    You can save money on your new car by shopping around for a car loan before you buy one. If you’re planning on buying a vehicle, follow these steps to get the best deal.

20. 

    What You Should Know Before Taking Out a Wedding Loan

    Kat Tretina June 7, 2022  •  3 Minute Read

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    Wedding loans are a form of a personal loan. Lenders designed them specifically to pay for wedding-related expenses, such as the dress, invitations, flowers, and renting a venue.

21. 

    How to Qualify for a Home Loan When Self-Employed

    Kat Tretina June 1, 2022  •  3 Minute Read

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    Being your own boss has some downsides, especially if you plan on buying a house. Self-employed mortgage applicants may have a tougher time qualifying for a home loan, and there are more hoops you have to jump through. Here’s what you need to know to buy a home when you’re self-employed.

22. 

    Pros and Cons of Using a Personal Loan for Business Expenses

    Kat Tretina May 5, 2022  •  3 Minute Read

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    If you dream of starting a business or want to expand your side hustle, finding the money you need to make your goals a reality can be difficult. Most business loan lenders require you to be in operation for several years before you can qualify for a loan; if your business is new, you won’t be eligible for a loan.

23. 

    How Debt Consolidation Can Help You Save Money

    Kat Tretina April 30, 2022  •  3 Minute Read

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    Overwhelmed with credit card debt? You’re not the only one. According to Experian, the average credit card balance is $6,194. Credit cards tend to have high interest rates — the Federal Reserve reported that the average APR is 16.97% — which can cause your balance to grow over time.

24. 

    When Life Gives You Lemons, Get a Personal Loan

    Chelsea Denning April 20, 2022  •  3 Minute Read

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    In the past, personal online loans developed a bad rep for extremely high interest rates. Over the years, many companies have disrupted the personal loan space with cheap loan options. The rates have become so competitive that some people prefer unsecured loans over traditional options. Here’s why.

25. 

    Should I Use a Personal Loan to Start My Business?

    Kat Tretina October 1, 2021  •  4 Minute Read

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    When you have a great idea for a business, the biggest roadblock to your success is money. Depending on how much you need to get started, a personal loan may be a good option to consider. But before you fully commit, take a look at this list of pros and cons to make sure it’s right for you.

26. 

    How to Use a Personal Loan to Launch a Freelance Business

    Kat Tretina October 12, 2018  •  3 Minute Read

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    Many new freelancers and business owners go through the same thing. They have trouble getting the money they need because they’re so new. If you are entering into the world of freelancing and are needing the extra funds to be successful, learn more about how a personal loan might be best for you.

27. 

    Best Personal Loans for Debt Consolidation

    Holly Johnson August 23, 2018  •  4 Minute Read

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    If you want to get out of debt this year and know a personal loan could help, it’s smart to compare loan companies to see what they can offer. Read on to learn about the services that offer personal loans with low rates and could help you save money on interest, pay down debt faster, and simplify your financial life.

28. 

    Money Lessons You Can Learn with a Personal Loan

    Holly Johnson July 25, 2018  •  5 Minute Read

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    While personal loans have gotten a bad rap, there are benefits that come with taking one out. If you have good credit, personal loans can also come with competitive interest rates that are much lower than you would get with a credit card.

29. 

    How Entrepreneurs Can Get Financing Without Going Into Debt

    Kat Tretina July 17, 2018  •  3 Minute Read

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    When it comes to starting a company, the most common sources of funding are business loans, credit cards, and personal loans. However, if you’re saddled with any type of debt, adding more debt to the mix can be risky. Thankfully, there are three ways to get financing for your business without borrowing money.

30. 

    Which Type of Loan Should You Get for a Home Remodeling Project?

    Holly Johnson July 13, 2018  •  5 Minute Read

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    Whether you want to redo your kitchen, add a new bathroom, build a room addition, or create a new outdoor living space, your project won’t be cheap. If you are ready to remodel but need to borrow money to bring your project to fruition, here are the loan options you should consider.

31. 

    What Happens if You Default on a Personal Loan?

    Kat Tretina May 3, 2018  •  3 Minute Read

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    When you take out a personal loan, you agree to a set monthly payment. It’s a binding contract that you have to meet, or you risk entering default. That might not sound serious, but it can have significant consequences.

32. 

    How to Get a Personal Loan With a Credit Score Under 600

    Kat Tretina March 12, 2018  •  3 Minute Read

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    Whether you have to pay for an unexpected car repair or need to a loan to cover the cost of a home improvement, a personal loan can be a smart financing option. But, with poor credit, it can be more challenging to find a lender willing to work with you. If your credit score is less-than-perfect, check out these 5 tips to help you find a loan.

33. 

    3 Times a Short-Term Loan Can Be a Lifesaver

    Kat Tretina February 28, 2018  •  3 Minute Read

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    There’s a big difference between a real emergency that justifies a short-term loan and a skippable expense. If you find yourself in any of these situations, a short-term loan may be your best bet.

34. 

    How to Get a Personal Loan with Bad Credit

    Kat Tretina January 29, 2018  •  3 Minute Read

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    Whether if you have credit card debt or are facing an emergency and need extra cash, a personal loan can be a useful tool. However, if you have less-than-stellar credit, finding a lender to approve you can be tricky. But, it’s not impossible. Here’s what you need to do to get a personal loan with bad credit.

35. 

    Using Short Term Loans Responsibly

    Kat Tretina January 15, 2018  •  3 Minute Read

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    Short term loans have a bad reputation for creating a debt cycle that is difficult to escape. However, if used responsibly, short term loans can help out in an emergency or with an unexpected expense. There are number of options for those seeking short term loan possibilities.

36. 

    4 Factors to Consider Before Taking Out a Personal Loan

    Kat Tretina October 27, 2017  •  4 Minute Read

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    I decided to take out a personal loan to wipe out my credit card debt. My new loan had a much lower interest rate, so more of my payments went towards the principal rather than interest. Taking out that loan helped me become debt-free much faster. While a personal loan was a smart choice for me, they’re not for everyone. Here’s what you need to consider before applying for a loan.

37. 

    5 Clever Reasons to Refinance Your Mortgage (and 3 Reasons Not to)

    Holly Johnson August 11, 2017  •  6 Minute Read

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    With interest rates near record lows so long that rising rates seem imminent, it’s smart to at least consider refinancing your home mortgage. A lower interest rate could give you plenty of advantages, after all. While loan outcomes vary, lower interest rates can easily lead to lower monthly mortgage payments and interest savings. Under the right circumstances, you could even shorten the repayment timeline for your loan and pay off your home faster.

38. 

    Mortgage Basics

    June 26, 2017  •  1 Minute Read

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    Compared to merely renting, financing an owned residence can be quite the monetary commitment. Luckily, through mortgage loans, homeowners can break the total cost of their home into regular payments over the course of a number of years.

39. 

    BIG Investments = BIG Decisions

    Kirsten Thuringer March 16, 2016  •  1 Minute Read

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    Buying a home can be one of the scariest decisions of your life, but also one of the best. Before visiting with a realtor or starting your house hunting, you need to ask yourself a few questions.

40. 

    5 Steps to Begin Your Home-Buying Process

    Camie Sims June 1, 2015  •  1 Minute Read

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    Springtime brings an upswing in home sales - if you’re looking to move, or even purchase your first home, it’s best to get everything in order now before you start the whole process.

41. 

    Simplifying Debt Consolidation

    Camie Sims September 8, 2014  •  1 Minute Read

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    What exactly is debt consolidation? While many may have heard of this term, to a consumer that is new to credit, the whole process can be a bit confusing...

42. 

    Debt consolidation as a type of Stress Management!

    Scott Delzer March 10, 2011  •  1 Minute Read

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    When people refer to stress management they usually talk about stress balls to squeeze, getting a massage or taking a pill. When we talk about debt management it means we can’t squeeze another penny out of our pocket for the bills, massage our accounts to work in our favor and there most certainly isn’t a magic wand or pill to solve the problem.

43. 

    In the market for a new home or refinancing an existing loan?

    Scott Delzer February 24, 2011  •  1 Minute Read

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    If you are looking to buy a new home or refinance your existing mortgage loan, be prepared as the process may not be as easy as you think. With the unemployment rates, extremely low home prices and foreclosures on the rise, consumers are finding it difficult to get financing.

44. 

    Alternatives to home equity loans or mortgage refinancing?

    Camie Sims January 25, 2011  •  1 Minute Read

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    An alternative to a home equity loan or mortgage refinance loan may be a short term loan for some.

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