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What Is a Personal Loan?

Better Credit Blog

Personal loans are installment loans offered by a bank, credit union, or other financial institution to an individual borrower. Everything about personal loans is fixed from day one: the length of the loan, the interest rate, and the amount you borrow, meaning the terms of your loan are set in stone.

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Does Chapter 13 Wipe All of Your Credit?

Sawin & Shea

While different from Chapter 11, Chapter 13 is similar in the sense that it involves reorganizing and consolidating debts. This filing method is referred to as “the wage earner’s plan” because filers repay some of their debt balances with their regular income.

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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. Risk to loan guarantees.