Personal Loan Settlement: Everything you need to know before making a decision
2 weeks, 2 days ago

Personal Loan Settlement: Everything you need to know before making a decision

Live Mint  

People always resort to debt settlement when they are under pressure and want to break free from the vicious cycle of personal debt. Benefits of personal loan settlement Debt relief: This one also is more focused on debt relief; Loan settlement allows you to settle all your debts at a lower payment than what you owe. Drawbacks of personal loan settlement Effect on credit score: The most immediate and irreversible effect of taking a loan settlement is a low average credit score which leads to more difficult access to new credit cards and loans in the future. The most immediate and irreversible effect of taking a loan settlement is a low average credit score which leads to more difficult access to new credit cards and loans in the future. Unfavourable credit history: The effect of a settled loan remains in the credit report and hence lenders see one as a high risk to lend money to.

Personal Financial Credit Personal Loans Settlement Loans Debt Loan Lender Your Lender Debt Relief Loan Settlement Personal Loan Settlement  know  loan  decision  credit  debt  loans  effect  score  financial  need  personal  making  lender  settlement

History of this topic

Personal loan approval: How does your salary influence the decision? Find out
2 days, 14 hours ago

Personal loan approval: How does your salary influence the decision? Find out

Live Mint  

If you want to get a personal loan, your employment as well as your income plays a major role in making your application eligible for the loan. Let us understand the role of your salary in loan approval of personal loans: Importance of gross income Gross income is the total income earned before the deduction of taxes which is an …

Interest free personal loans: From benefits to eligibility; all you need to know
1 week, 6 days ago

Interest free personal loans: From benefits to eligibility; all you need to know

Live Mint  

Life has a funny way of throwing unexpected expenses at you. Benefits of interest free personal loans Instant access to purchases: These loans are the best for urgent financial requirements because they enable you to buy what you need immediately. Drawbacks of interest free personal loans Reduced financial stress: You will have a low credit score but also increased financial …

Personal Loans For Big Purchases: Here Are Some Of The Pros And Cons
2 weeks ago

Personal Loans For Big Purchases: Here Are Some Of The Pros And Cons

ABP News  

A personal loan is a practical option for financing significant purchases or one might need for the unplanned purchase. Here Are Some Of The Advantages Of Taking A Personal Loan Fixed Interest Rates Unlike credit cards, which often have fluctuating interest rates, personal loans typically come with fixed rates. Potential For Lower Interest Rates Personal loans often have lower interest …

Blockchain in personal loans: How it will redefine the future of lending
2 weeks, 2 days ago

Blockchain in personal loans: How it will redefine the future of lending

Live Mint  

The banking industry cannot be an exception to what blockchain technology has already been doing to several industries. Let's analyse how blockchain and other state-of-the-art technology could redefine personal loans. Interest rates on personal loans depend on factors like loan size and creditworthiness and are usually repaid through regular monthly payments. But, as compared to any other type of loan, …

Personal Loan Repayment: 8 tips to pay off your loan faster
1 month ago

Personal Loan Repayment: 8 tips to pay off your loan faster

Live Mint  

A personal loan may be a good financial tool when used judiciously. Let's have a look at the strategies to enable you to reduce your total debt, and pay off your personal loan more speedily. Principal and interest rate are typically repaid in equal monthly instalments while paying back a personal loan. It is easier and more economic to pay …

Personal loan: Before zeroing in on a lender, make note of 7 key points
Trending News
1 month, 1 week ago

Personal loan: Before zeroing in on a lender, make note of 7 key points

Live Mint  

If you are all set to borrow a personal loan, then the first and foremost thing that you need to do is to zero in on a bank to borrow the money from. It is recommended that you choose the best personal loan provider after examining your financial needs, carrying out a thorough research, and comparing different lenders and their …

7 types of personal loan repayment method: Which one is best suited for you?
1 month, 1 week ago

7 types of personal loan repayment method: Which one is best suited for you?

Live Mint  

Managing loan repayment properly can really make a difference in your financial health. Understanding personal loans A personal loan is essentially an unsecured loan for which a large amount of money can be received for purposes that one might want, like any medical crisis, house improvements, travel, and also any form of debt consolidation. One, however, should analyse before applying …

Personal Loan EMIs: A borrower’s guide for a smooth repayment strategy
Trending News
1 month, 2 weeks ago

Personal Loan EMIs: A borrower’s guide for a smooth repayment strategy

Live Mint  

A personal loan is a flexible financial option that facilitates quick access to funds for home improvements, meeting medical emergencies, travelling, or educational purposes. Unlike home or auto loans, personal loans do not require collateral but frequently have higher interest rates. In the early periods of the loan, a larger amount of your EMI is dedicated to interest, and the …

Personal loan repayment: What it means & how it works?
Trending News
1 month, 2 weeks ago

Personal loan repayment: What it means & how it works?

Live Mint  

Loan repayment is the process of paying back borrowed funds with interest over a specific period of time. Factors influencing loan repayment Several factors influence how easy it becomes for you to repay the loan: Loan tenure: Longer tenures translate to lower monthly EMIs but more total interest paid. Loan extensions: To reduce the burden of loan servicing, some lenders …

5 key benefits of personal loans that you should know about –– flexibility, lack of usage curbs, and …
Trending News
1 month, 2 weeks ago

5 key benefits of personal loans that you should know about –– flexibility, lack of usage curbs, and …

Live Mint  

Life often presents us with unforeseen expenses includeasily available to people. Knowing the key benefits of personal loans can help you make well-informed financial choices to achieve your objectives. The interest rates on personal loans are usually affected by several factors, including your credit score, income, and the loan amount. Quick disbursement process: Personal loans are approved and disbursed within …

What is a personal loan? A comprehensive guide for first-time borrowers
1 month, 3 weeks ago

What is a personal loan? A comprehensive guide for first-time borrowers

Live Mint  

Personal loan loans are flexible financial options that can be availed in pursuit of different goals of life such as paying an emergency medical bill, funding home improvements or realising that special dream vacation. Important factors to consider before taking personal loans 1.Loan terms and conditions: Before taking a personal loan, always read the fine print. 2. Credit score: It …

Personal loans for big purchases: Here are the pros and cons
7 months, 2 weeks ago

Personal loans for big purchases: Here are the pros and cons

Live Mint  

A personal loan presents a viable option for financing significant purchases. In contrast to credit cards, which may have variable interest rates based on your creditworthiness or the state of the market, personal loans provide peace of mind. Possibility of reduced interest rates: Interest rates on personal loans are usually lower than those on credit cards, especially for borrowers with …

Increasing number of borrowers seeking help in loan settlement
2 years, 8 months ago

Increasing number of borrowers seeking help in loan settlement

Deccan Chronicle  

The Covid-19 pandemic caused a lot of suffering in India, not only in terms of health but also in terms of jobs and financial security. Their loan settlement services are mainly for unsecured debts like credit card loans or personal loans and even unsecured business loans. There are many benefits of using loan settlement services. If you are struggling to …

Discover Related