If you’re like most people, your credit cards probably feel like an overstuffed turkey right about now, but the bills just keep comin’. Years of high inflation and boosted prices on literally everything we buy have not only killed most people’s savings, but are also making the day-to-day grind a tighter squeeze than a DD in a training bra. So what do you do to get by?
There are some borrowing options available, and while they might not be great (a lot of it depends on your credit score)…at least they can keep the wheels of your household running! You just need to make completely sure you know what you’re getting into before you take the plunge. That’s where we can help!
Here are Five Fast Facts about debt consolidation or personal loans:
- 👍 Already Awesome - If you’ve got great credit scores, check out the Lightstream Personal Loan. You have to have a 660 or better credit score, but they give you solid interest rates with no prepayment penalty or origination fees. And, you can sometimes get the money on the same day! Just know that you have to apply to find out what you can get, so it’s hard to comparison shop here.
- 🤷 Fair Credit - Maybe you’re not at the top of the credit totem pole, but what if your score is still pretty good? Then you might look into a Happy Money Payoff Loan. You don’t need as good a score as with Lightstream, and the rates are still comparable. You might have some origination fees, though.
- 👎 Bad Credit - If your credit history is more checkered than an F1 finish line flag, then see about an Upstart Personal Loan. They will work with just about any credit score, though you will have higher interest rates to deal with. Also, they may add some significant origination fees, so make sure you know what you’re getting into.
- 💨 Quick Fix - If you just need a little bit of money but need it fast, one option is the Upgrade Personal Loan. They do loans as low as $1,000, and you usually get the money just one business day after the loan is approved. Make sure you pay it off on time, though, because they also charge late fees!
- 💰💰 Think Big - If you need big bucks, then your best option might be a SoFi personal loan. They offer debt consolidation loans up to $100k, but for more than just those with the best credit scores. They also don’t charge origination fees or prepayment penalties.
🔥Bottom line: It’s never a good thing to go deeper in debt. At the same time, Paychecks are stretched so thin now that sometimes you just gotta do what you gotta do to get by.
What options have you used in the past?
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