Personal Loans Questions

fifty dollar roll
Dec, 19, 2013
A lawsuit loan is a personal loan that can help a borrower fund his or her legal case or help him or her pay for living expenses as their lawsuit settles. Lawsuit loans are generally for victims of a workplace injury or some related grievance where they need to borrow money as they await receiving settlement money. Unlike most types of personal loans, a lawsuit loan’s repayment depends on whether a borrower wins or loses their lawsuit. If a borrower wins their lawsuit, then they repay the lawsuit loan lender with interest. If a borrower loses, then they do not have to repay the lawsuit loan.
Group of students in class
Nov, 19, 2013
Personal loans can be used for educational purposes ranging from a singular training class fee to common college expenses. Although student loans comprise the majority of educational-based lending, some smaller expenses can be paid for with personal loans. Most federal student loans are disbursed to a borrower’s university or college, but personal loans are given directly to the borrower. This allows the student to use the funds as they please, whether for school supplies, housing, or unexpected expenses.
credit card and glasses
Nov, 12, 2013
A consumer’s credit score is greatly impacted not just by the amount of credit cards they apply for but also the time frame in which they apply for them. Eric Adamowsky, Co-Founder of Credit Card Insider, said filling out multiple credit card applications in a short period of time will result in multiple hard inquiries within that short period. These inquiries cause consumer credit scores to fall.
hundred dollar bill roll on stock chart
Jul, 24, 2013
Yes, consumers can borrow a personal loan and invest the money. However, borrowing a personal loan to use for investment doesn’t always lead to a happy ending, let alone a profitable outcome. Since not everyone has the money needed to contribute to worthwhile investments, such as stocks, it seems reasonable that some prospective investors would turn to borrowing money to fund their investing plans. But borrowing money to potentially make money is not always a wise decision, especially for the average or novice investor.
pair of credit cards
Jul, 11, 2013
Yes, you can use a credit card to repay an outstanding credit card. There are actually a few benefits to doing this, at least if done right. But just because you can, doesn’t mean you should. To a degree, using one credit card to pay off an older one can even be considered analogous to burning down your house to try and keep warm. While it will handle one problem, it merely trades it for another.
Plastic surgeon marking abdomen
Jun, 12, 2013
Consumers ready to undergo a cosmetic procedure can finance it with a personal loan. Many life events such as buying a home or acquiring a new car have certain loans devoted to them. But for cosmetic surgery, the financing options are less defined. Fortunately, borrowers have several options to pay for the procedure, including personal loans, medical credit cards, and doctor’s office finance plans.
counting money
May, 15, 2013
An installment loan is a long-term loan, usually due in small installments spread out over several weeks. Under an installment loan, the lender gives the borrower a certain amount of credit. Unlike payday loans, which usually need to be repaid within 14-31 days, an installment loan is paid out in monthly installments over the course of several months. To avoid the interest rate caps set in place by several states, installment lenders employ two tactics: offering loan insurance packages and convincing borrowers to renew their loans.
May, 2, 2013
A pension loan gives borrowers a lump cash sum in exchange for a percentage of the borrower’s future pension payments. The loan is usually paid back in monthly installments. Consumer advocate groups warn against pension-advance loans because they charge high interest rates. What is a pension?
Loan shark shady lender
Apr, 24, 2013
A loan shark is a lending organization or person who offers loans at excessively high interest rates. Since personal loans and payday loans are both heavily contested forms of lending, there are varying opinions about what constitutes a loan shark in the industry. Clay Sparkman, vice president of Fairfield Financial Services, said that just because someone charges higher rates and fees, it doesn’t make them a loan shark.
flowers placed on a headstone
Apr, 22, 2013
Not very much happens when your cosigner dies, provided you don’t default. Eric Counts, Founder of CreditNerds, told that as long as the personal loan borrower doesn’t default, then nothing should change. The personal loan’s lifetime and interest rate would be completely unaffected. He explained that even in the event of an untimely death, lenders protect themselves and have enough foresight to take into account the passing of a cosigner.