Personal Loans

When it comes to personal loans, we want to help you make smarter financial decisions. Our experts explain the in’s & out’s of personal loans, highlight the types of loans available – their advantages and disadvantages – and how to improve your chances of getting approved. We also alert you to personal loan scams you should avoid & highlight how personal loans compare to traditional student loans or auto loans.

Major Title Loan Lender TMX Finance Ordered to Pay $9M for Misleading Customers

Major Title Loan Lender TMX Finance Ordered to Pay $9M for Misleading Customers

Major Title Loan Lender TMX Finance Ordered to Pay $9M for Misleading Customers

One of the nation’s largest title loan firms was fined $9 million for misleading consumers about their cost of borrowing, federal regulators said Monday. TMX Finance, the parent company of TitleMax, allegedly tricked borrowers into taking out longer-term, more expensive loans, and also used illegal debt collection tactics, according to the Consumer Financial Protection Bureau.... Read More

A New Credit Bureau Is Opening & It’s All About Payday Loans

A New Credit Bureau Is Opening & It’s All About Payday Loans

A New Credit Bureau Is Opening & It’s All About Payday Loans

As federal regulators continue efforts to rein in the payday loan industry, one surprising byproduct will likely be the creation of a new kind of credit bureau. The Consumer Financial Protection Bureau has proposed new rules dealing with short-term, high-interest loans like title and payday loans. These mainly focus on preventing consumers from getting trapped... Read More

11 States Where $1 Goes the Farthest

11 States Where $1 Goes the Farthest

11 States Where $1 Goes the Farthest

A dollar isn’t always a dollar, as a recent report makes clear. Sometimes it’s $1.15. Other times it’s less than 85 cents, and it all boils down to where you live. That’s the finding of the Bureau of Economic Analysis, which published in July its report for 2014 prices for household consumption across the country. Your dollar will... Read More

The Credit Card Alternative You Might Have Overlooked

The Credit Card Alternative You Might Have Overlooked

The Credit Card Alternative You Might Have Overlooked

Whether you’re in a money emergency or need to finance a big-ticket purchase, it’s important to understand what type of debt you should take on. Ideally, you’ve got an emergency fund and savings account, so you don’t have to go into debt. But sometimes the furnace breaks, and you just don’t have the money saved... Read More

How Much Can You Borrow With a Personal Loan?

How Much Can You Borrow With a Personal Loan?

How Much Can You Borrow With a Personal Loan?

So you’ve thought it over, and after crunching the numbers decided you’re ready to get a personal loan. Perhaps you want to consolidate credit card debt or put the money toward home repairs. Whatever it is, a cash injection is just the ticket. But how much can you possibly take out? The answer depends on several factors but is mainly... Read More

This Bank Is Raffling Off a Year of Loan Payments

This Bank Is Raffling Off a Year of Loan Payments

This Bank Is Raffling Off a Year of Loan Payments

Struggling to make your loan payments? SunTrust Banks has a new offer designed to give a few lucky borrowers some breathing room. As part of its Year onUp Sweepstakes, the Atlanta-based bank will award 25 people “the amount of their monthly mortgage, auto loan or student loan payments for an entire year, up to a certain value,” according... Read More

A 0% Paycheck Advance: Here’s How It Works

A 0% Paycheck Advance: Here’s How It Works

A 0% Paycheck Advance: Here’s How It Works

Most employers pay their employees every other week or twice a month — a modus operandi that can lead those living to paycheck-to-paycheck to turn to often-expensive payday loans, bank overdrafts or high-interest credit cards when an emergency arises and/or they’re low on cash. Now, one Palo Alto startup is aiming to help cash-strapped consumers bridge the gap at a... Read More

Bad Credit Borrowers Get New Option as Payday Loan Reform Looms

Bad Credit Borrowers Get New Option as Payday Loan Reform Looms

Bad Credit Borrowers Get New Option as Payday Loan Reform Looms

People with bad-to-no credit often struggle to find financing. Because they’re viewed as a risk among traditional lenders, some of these folks turn to small-dollar payday loans for emergency cash. But these loans come at a cost: In many cases, the annual percentage rate (APR) on a payday loan averages about 400% and can run as high as 5,000%. There’s been a... Read More

New Rules Aim to End Payday Loan ‘Debt Traps’, CFPB Says

New Rules Aim to End Payday Loan ‘Debt Traps’, CFPB Says

New Rules Aim to End Payday Loan ‘Debt Traps’, CFPB Says

Claiming Americans consumers have been “set up to fail” by the short-term lending industry, federal regulators on Thursday issued sweeping new rules that would drastically alter the payday and title lending industries. Under the proposed rule from the Consumer Financial Protection Bureau, short-term lenders would have to verify borrowers’ ability to promptly repay loans, and be... Read More

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