Remove Bankruptcy Remove Credit Unions Remove Debt Consolidation Remove Personal loans
article thumbnail

What Happens After a Personal Loan Bankruptcy Discharge?

Sawin & Shea

When filing for bankruptcy, you can discharge certain types of personal loans, meaning that you’re no longer legally responsible for paying off the debt. If you’re considering filing for bankruptcy, you need to know what personal loans you can discharge and which filing method suits your financial situation.

article thumbnail

What is Debt Consolidation and How Does it Work?

Better Credit Blog

Debt consolidation is when you bundle several debts together into one larger sum and then make a single monthly repayment instead of multiple smaller ones. Consolidating debts with different interest rates and repayment schedules can make it easier to manage your finances. Debt Consolidation Guide.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Here’s how much credit card debt the average American has (and how to pay it off)

Collection Industry News

With a debt management plan, you may be able to consolidate your monthly payments into one and get lower interest rates on your credit cards, making it more affordable to pay off what you owe. These plans typically run for three to five years, allowing you to pay off your debt completely during that timeframe.

article thumbnail

560 Credit Score

Better Credit Blog

There are a lot of factors affecting your credit score , with some carrying more weight than others. Bankruptcy. Debt collections. The issues above can hinder your access to both revolving lines of credit and installment loans. Personal Loan Options with a 560 Credit Score. Repossessions.

article thumbnail

620 Credit Score

Better Credit Blog

Here’s the outlook for a 620 credit score: Credit range: Fair. Personal loan: Limited options. Auto loan: Limited options. Unsecured credit cards: Limited options. Secured credit cards: High approval. Several credit issues can result in a score of 620. Debt consolidation loan.