Payday loans can be tricky for borrowers. Not only do they have short repayment periods, but they also tend to come with high interest rates. These factors can make it difficult for borrowers to repay these loans promptly, if at all. In some cases, borrowers may choose to “roll over” the loan, which means paying …
The US Federal Reserve recently increased its benchmark interest rate by 0.75 percentage points, reaching a range of 2.25-2.5%. This is the second rate rise in a short period, and experts expect more of the same in these challenging economic times. Consumers have to make various concessions to save money, and one of the most …
How to Pay Down Debt During Periods of High Interest Rates Read More »
Personal loans can be beneficial, and many of us have used them to help consolidate our debts and balance our budgets. Unfortunately, unforeseen circumstances can sometimes make loans too expensive to pay back. For example, losing a job or investment can seriously affect your ability to honor your payment arrangements on a personal loan. And …
I’m Struggling to Pay Back My Personal Loan. What Should I Do? Read More »
Many people find that they have to take out a loan of some type at least once in their lifetime. In some circumstances, you may have the opportunity to repay a personal loan off ahead of schedule. In that scenario, you may wonder whether that is the best plan of action. The obvious option is …
