Getting through life without taking out at least one loan is difficult at best. Obviously, the ideal situation would be to pay cash for all of your purchases. Not many people have the amount of money required to purchase a house or car. Many people also find themselves needing extra financing to start a business or go to college. Regardless of the reason, learning the ins and outs of loans can save you headaches and money.
The tips in this section can help you understand and work with the loan situation that is right for your circumstances. From dealing with lenders and student loans to obtaining business loans and debt consolidation loans, you'll find the information here to make your life easier.
Tips, Tricks, and Answers
The following articles are available for the 'Loans' topic. Click the article''s title (shown in bold) to see the associated article.
Avoid Payday Loan Companies
Payday loan companies are a bad plan, my friend. They feed your impulse to spend before you have and charge you exorbitant fees for it. Avoid them and spend only what you have to spend.
Avoid Payday Loan Companies - Video
Payday loan companies are a bad financial idea. They feed your impulse to spend what you don't have, and then they charge you exorbitant fees for it.
Dealing with Lenders
Most of us will at one point in our lives need to take out a loan and so we'll need to know how to deal with our lenders. Lenders are the middlemen between you and the money you need and if you do what you need to take control of the situation, your lender will be in the best position to help you out.
Dealing with Student Loans
Student loans are one of the only ways to pay for higher education, and higher education is a field that's getting more and more expensive. If loans are some of your only options there are ways to go about it and things to consider. You can definitely do loans the right way!
Debt Consolidation Loans
Debt is always a sticky situation and one that is hard to fix. There are ways though and one of the remedies is a debt consolidation loan. The thing to remember with these loans though is that they can either help or devastate.
Evaluating Bank Loans
Sometimes it seems like everybody and their dog wants to give you a loan. Here's how you can keep from getting stuck with a dud.
Home Equity Loans
Home equity loans can be beneficial for you home and your financial situation but they are also pretty risky. If you're considering a home equity loan, then know the risks and know what's out there for your options.
If you have gone to college, are thinking of going to college, or simply owe quite a bit of money, then chances are you have heard the term loan consolidation before. However, before you go out and get a new loan to cover all that you owe, make sure that you know what you are getting into.
Loaning Money to Family and Friends
There is an old saying about never mixing family and money, and frankly it is there for a reason. Loaning money to family and friends has a tendency to end friendships, and tear families apart. That being said, if you are determined to do it, there are a few things you can do to help minimize the problems.
Obtaining a Business Loan
The steps for obtaining a business loan are similar to those for obtaining a mortgage or car loan. The main difference is the requirement for a business plan. You can prepare for obtaining a business loan by reviewing your credit history and by writing your business plan. Be sure to have all your documentation ready when you visit with your banker or credit union.
School Loan Consolidation
Student loans can be expensive to repay. Depending on the types of loans you have, a consolidated program could help make repayment more affordable.
Student Loan Refinancing
There are many benefits to refinancing federal student loans. Student loan refinancing is a federally guaranteed program.
Understanding Interest Rates
Interest rates are the fee charged for borrowing money. Interest rates can be directly tied to your credit score.
Unsecured Personal Loans
Personal loans sound great because you often think of some extra money, however they do carry a high degree of risk with them, especially if it's an unsecured personal loan. Before diving in make sure you know the risks and can manage your finances.
Using a Home Equity Line of Credit to Pay for Christmas
It has become increasingly popular to use the equity in a home as a "magic bullet" for solving any and all financial difficulties. However, using a home equity line of credit to pay for Christmas may not be all that it's cracked up to be. Here's why.
What are Interest Rates?
Whether you are new to the world of finance, or are simply trying to teach your children how to be fiscally responsible, interest rates are something that you will have to understand. But what are interest rates? The answer is both easy, and complicated, to understand. Keep reading to find out how.
What is a Bridge Loan?
Buying a new home is always exciting, but sometimes finding that extra cash to fill the gap between selling the old and closing on the new is hard to come by. You may want to consider a bridge loan which will provide that extra cash, but with an extra cost as well.