It started out as a simple question on the Credit.com forum, “Anyone know the difference between a consolidation loan and a personal loan?  I see both on this site and others, but not sure what the difference is — are they the same?” A simple question? Perhaps. But it reminded us how confusing loan terminology… Read More

When you have debts you can’t afford to pay, your options for dealing with them are limited. Unfortunately, once you fall behind with payments, your choices narrow even further. Timing is a critical factor when you are burdened with debt. The earlier you can sit down and concentrate on your debts and available cash flow,… Read More

When you need to borrow money you have a number of choices to make: bank or credit union? Credit card or home equity loan? Fixed or variable rate? One option you may be considering is a personal loan. If so, what makes these loans different? They carry fixed interest rates. That makes them different than,… Read More

When it comes to credit, sometimes even the simplest notes we receive from credit card companies can seem confusing. One Credit.com reader experienced this confusion recently, right after she got approved for her new credit card. Her approval letter contained a puzzling message at the top. “So what does ‘Your APR will be Prime Plus… Read More

A personal loan can be a great way to consolidate debt or tackle a home improvement project without having to pull out the plastic. Unlike credit cards, personal loans often offer fixed interest rates and fixed repayment periods — usually three to five years — which makes it easier to budget payments. On the other… Read More