A personal loan is any money borrowed from a lender (business, bank, credit union, credit worthiness guarantor, online lender) in which you pay back in monthly installments in 2-7 years.
The personal loan can be used for any reason typically and is unsecured (not backed by any asset).
- Is a personal loan right for you?
- If you’re dealing with high credit card debt, a personal loan might be the right choice for you. When examining the process of qualifying for a person loan, typically a credit score of “good” standing, on-time payment history, and a stable income is required to secure o
- Interests rates on personal loans?
- Personal loan interest rates are much lower than credit-cards even with prime credit. This can lead to increased savings when paying back on debt and purchases. However with any loans, the higher the credit, the better interest rates you’ll receive. Some lenders will also give personal loans to candidates with sub prime credits, however the interest rates will be high. That can lead to major debt piling up without a plan to pay it back.
- Why use LibetyConsolidate for personal loans?
- LibertyConsolidate has already taken the guesswork out of qualifying for a loan. Through our pre screening process and financial relationships with lenders and banks, we have simplified the process for our clients. By using a soft credit check (which has 0 impact on your credit score) we examine your entire financial profile and pick out the best qualified loans for you from our partners. Those partners work to get you the best rate possible due to our partnership.