Articles tagged #PersonalLoan

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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.
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.
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.
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.
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?
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.
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.
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.
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.
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.
5 Tips for Using a Personal Loan for Job Relocation

Kat Tretina January 8, 2022 • 3 Minute Read
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Relocating for a new job can be exciting, scary, and expensive. If you don’t have enough money stashed away in savings to cover the cost, you may be thinking of charging your moving expenses to a credit card. But there may be a better way: using a personal loan.
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.
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.
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.
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.
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.
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.
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.
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.
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.