Taking out multiple loans at the same time can be overwhelming as you add different monthly payments and due dates, making it difficult to budget your monthly expenses. This often happens with high-interest credit card debt, which is why some borrowers turn to debt consolidation to simplify their debt repayments. Let’s learn what debt consolidation … Read more
Many American adults look to emergency loans when an unexpected cost arises because they do not have enough savings to pay for it. The Bankrate survey found that more than half of American adults – 57 percent – would not be able to cover a $1,000 emergency expense using their savings. Emergency loans can give … Read more
A loan shark is a person who lends money illegally at high interest rates or who threatens violence to collect loan payments. Loan sharks are predators who forcibly extend loans to enrich themselves by violating state or federal laws. Loan sharks typically charge annual percentage rates of interest in excess of 36% APR and may … Read more
What is an Unsubsidized Loan? Unsubsidized loans are a type of federal student loans offered by the U.S. Department of Education. Unlike subsidized loans, unsubsidized loans are not based on financial need. This means that anyone can qualify for an unsubsidized loan, no matter their income level. Here are the main differences between subsidized and … Read more
The practice of giving gifts to customers by loan officers is generally regulated and may vary depending on the jurisdiction and policies of the lending institution. In many places, there are strict regulations in place to prevent unethical practices, conflicts of interest or bribery in the loan industry. Loan officers are often bound by codes … Read more