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Why Take Out a Personal Loan?

Many consumers take out personal loans and use the proceeds to pay off their credit cards. This can offer a couple of benefits. First,...

A Personal Loan Is for a Fixed Amount

The amount of personal loans ranges anywhere from $1,000 to $50,000, depending on your lender, your income, your other debt, and your...

Personal Loans Have Fixed Repayment Periods

You'll have a set period of time to repay your personal loan. Loan periods are usually stated in months: 12, 24, 36, 48, or 60. Longer...

Personal Loans Affect Your Credit Score

Most lenders report your loan account details to the credit bureaus, which then include that information on your credit report....

Applying for a Personal Loan

It might be easier to get a personal loan from a bank where you already have a relationship. The bank will probably want to know what...

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