Personal Loans Articles

Financial advisor meets with a client in their home.

June 19, 2023 | By David Chang, ChFC®, CLU®

What Is Private Credit? How This Alternative Asset Class Connects Borrowers and Lenders

Alternative asset classes like private credit are gaining popularity among investors, especially in the current economic climate. Read on to learn more.

A person looks concerned at their financial documents and laptop.

May 23, 2023 | By Dana George

This Type of Loan Is So Predatory, Some States Have Banned Them. Here's Why

Payday loans often come with interest rates of 400% or more. However, these 19 states have outlawed the practice. Read on to find out why.

Woman looks skeptically at her cellphone.

May 21, 2023 | By Emma Newbery

Need a Payday Loan? Why This Wall Street Expert Says You Should Think Again

Payday lenders charge $10 to $30 in fees for every $100 borrowed. Find out how quickly those fees can add up and make a bad financial situation worse.

Man in apparent distress on phone with vehicle in the background.

May 20, 2023 | By David Chang, ChFC®, CLU®

6 Ways to Get Out of an Upside Down Car Loan

Being upside down on a car loan means you owe more than the car's current worth. Read below to find out how to get out of it.

A couple look over loan documents with their loan officer.

May 12, 2023 | By Ashley Maready

4 Reasons to Refinance Your Auto Loan

You're not necessarily stuck with the interest rate and payment terms on your auto loan. Read on to learn a few scenarios where it might pay to refinance it.

Two people at home looking at a tablet and paperwork.

May 11, 2023 | By Matt Frankel, CFP®

Should You Take Out a Personal Loan or Use a Credit Card?

Personal loans and credit cards can both be smart financial tools, but one could be the better choice for you. Here's how to tell.

Dismayed man sitting at a desk with his hand on his forehead.

May 10, 2023 | By Matt Frankel, CFP®

Unsure You Can Get a Personal Loan? Do This First

You can answer the question of whether you can get a personal loan quicker and easier than you think. Here's how.

Mature man at desk looking off in thought.

May 5, 2023 | By Steven Porrello

Is It Ever a Good Idea to Take Out a Salary Advance Loan?

A salary advance can help you get money fast. But is it a good idea to borrow against your paychecks? Read on to find out when it's a smart idea.

April 22, 2023 | By Steven Porrello

This Is the Only Time I'd Take Out a Loan to Travel

Personal loans can be expensive and aren't the best way to fund your travels. Read on for the one situation in which a personal loan for travel is a good option.

A worried-looking man standing in his kitchen and reading through paper bills in his hands.

April 21, 2023 | By Steven Porrello

This Is the Only Time Dave Ramsey Recommends a Personal Loan

Dave Ramsey hates personal loans. But here's one situation in which he recommends using one to get out of a bad situation.

A homeowner looks worried as he reads through his household bills at the dining table.

April 18, 2023 | By Ashley Maready

It's Financial Literacy Month. Here's How to Protect Yourself From Predatory Lenders

April is a great time to learn more about money management. Keep reading for some tips to avoid getting scammed when taking out a loan.

A worried couple looks at bills, with a laptop and a credit card on the table.

April 17, 2023 | By Dana George

Here's What Happens When You Default on Your Loans

Approximately 77% of Americans are worried about their finances, worried perhaps about defaulting on a loan. Read on to learn what they can expect if a default occurs.

Car salesman assisting couple with car purchase.

April 16, 2023 | By Cole Tretheway

Here's the Average Interest Rate on a Car Loan With a 700 Credit Score

A 700 credit score qualifies you for discounts on car loans, insurance, and more. Find out how much you can save, plus how to shrink monthly loan payments.

A salesman handing over the keys to a new car.

April 14, 2023 | By Cole Tretheway

Here's the Average Interest Rate on a Car Loan With a 501-600 Credit Score

Raising your credit score to 700 can halve your interest rate on an auto loan. Find out how to make purchasing a car more affordable with a below-average credit score.

April 10, 2023 | By Ashley Maready

Fail to Pay Your Auto Loan? Tech Advancements Could Mean Cars Repossess Themselves

Your auto lender has the right to repossess your vehicle. Keep reading to learn how technology could make this even easier, and how to avoid it.

Woman smiling as she drives a red vehicle.

April 6, 2023 | By Matt Frankel, CFP®

This Is the Average Auto Loan Interest Rate by Credit Score

Interest rates are higher than they used to be. Read on to find out how much you can expect to pay.

Two smiling people sitting at a table on a tropical beach.

March 30, 2023 | By Ashley Maready

3 Reasons I'll Never Take Out a Loan to Travel

You can borrow money for any reason with a personal loan. But keep reading to learn why using one to pay for a vacation isn't a good idea.

A man sitting at his kitchen table with a calculator and bills.

March 30, 2023 | By David Chang, ChFC®, CLU®

If You Have a Personal Loan Forgiven This Year, You May Have to Pay Taxes on It

If your personal loan is canceled or forgiven, it's known as Cancellation of Debt (COD) income. Read on to learn how it is taxed.

A man sitting on his couch and looking at his laptop in confusion while making a phone call.

March 26, 2023 | By Matt Frankel, CFP®

Here's What Happens to Your Loans if Your Bank Fails

Hopefully we've seen the last of the latest string of bank failures, but here's what you need to know just in case.

Man on the phone doing paperwork at home

March 26, 2023 | By Ashley Maready

3 Things to Consider When Choosing a Loan Term Length

Personal loans give you the option to decide how long you want to take to pay off what you owe. Keep reading to learn why loan term length is important.