Banks are opening their coffers to those who can pay
It’s getting chilly here in Central Illinois; Fall is definitely in full swing!
An exciting development within the financial industry has occurred: lenders are finally starting to loan money to borrowers who are credit-worthy! Imagine that. Earlier this month, the Wall Street Journal released an article detailing out how personal loans can be attractive options to pay off higher-interest debt, such as credit cards. Personal loans are typically unsecured, and as such are helpful to borrowers who don’t have a lot of collateral. Rates are not as low as secured loans, however, and it is imperative to find a lender who is competitive with their terms.
In the credit repair industry, it’s vital to be aware and knowledgeable on methods in which you can help your clients get out of debt and rebuild their credit profile. While not a new product, personal loans have now achieved widespread acceptance within the lending community as an effective solution to paying off higher-interest debt. Check out the article, and let us know what you think!
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