Loans

Loans of any kind represent an important part of your credit report, with the time interval, amount of debt incurred and payment history all heavily influencing whether you can borrow again in the future.

Latest Articles

What Is a Direct Stafford Loan?

A Direct Stafford Loan is a federal student loan that is offered to both...

How to Get a Car Loan if You Have Bad Credit

Trying to get a car loan with bad credit can feel like having a...

What Is an Unsubsidized Loan?

An unsubsidized loan is a federal loan for undergraduate college students who are still...

How Do I Refinance a Car Loan?

You can refinance a car loan by qualifying for a new loan, showing a...

What Is a Grace Period for Student Loans?

The rule of thumb is that you have a six-month grace period before you...

What Is a Subsidized Loan?

A subsidized loan, or direct subsidized loan, is a federal loan for undergraduate college...

What Is a Signature Loan?

A signature loan is a type of personal loan that is referred to as...

5 Strategies for Paying off Your Student Loans Fast

College can be tough, but the real challenge starts when you begin paying back...

What Is a Credit Union?

A credit union is like a bank but with major differences. Find out how...

Buying a Car as a Gift? Here’s What You Need to Know

Buying someone a car seems like the ultimate gift, especially if you’re watching car...

4 Things You Need to Know Before Getting a Student Loan

The average student loan borrower has four different student loans totaling an average of...

Federal Student Loan Forgiveness: 3 Things You Need to Know

Public service employees will get federal student loan forgiveness after ten years of on-time...

How to Improve Your Credit Score to Qualify for a Loan

  • Make on-time payments on one or more credit cards or credit accounts, utility bills and medical bills.
  • Maintain low balances on credit cards and other forms of revolving credit.
  • Apply for new credit only as needed, but keep unused credit cards open.
  • Pay off debt rather than move it around.
  • Protect credit accounts from fraud and identity theft.
  • Avoid any financial legal judgments.

How Much Personal Debt Should You Have

As a general rule, your total debt including home, auto, and personal commitments should amount to no more than 36 percent to 41 percent of your monthly income before taxes.