Credit card debt most of us have had it at some point in our lives. According to a recent WalletHub study, American families owe an average of $7,800 on their credit cards and total credit card debt in the U.S. is more than $926 billion.
If you are one of those with a lot of credit card debt, a personal loan may help you pay down your balances. Personal loans are best for people with good to excellent credit, because youll be able to get low interest rates.
Forbes Advisor experts say theyre good for debt consolidation, especially if you have multiple credit cards or ones with high interest rates.
The advantage of this is that you now have one debt payment per month, said Mike Cetera, Loans Editor at Forbes Advisor. And youll pay it of…
Read the full article at: https://www.nbcwashington.com/news/consumer/can-a-personal-loan-help-you-dig-out-of-debt/2577268/