Personal loans can provide an affordable alternative to credit cards and help you finance life’s big purchases while saving on interest.
Personal loans are growing in popularity: As of the third quarter of 2023, roughly 23.2 million borrowers in the U.S. owed a total of $241 billion in personal loans, according to online lending marketplace Lending Tree. While that’s far less than we’ve taken out in mortgages, credit card bills and car loans, it’s still double the $117 billion in outstanding personal loans seen in 2017.
It’s critical to have a repayment plan if you’re looking to take out a personal loan, whether it’s to consolidate debt, finance a home improvement or pay for a cross-country move.
Below, CNBC Select shares 10 qu…
Read the full article at: https://www.cnbc.com/select/questions-before-taking-out-personal-loan/