What you need to know

US consumers are carrying a larger debt burden than ever before, and some individuals have turned to personal loans to seek relief from high interest credit card debt and student loans. A little over 10% of consumers currently have a personal loan, and similar numbers are interested in obtaining one.


Personal loans are unsecured installment loans, repaid over a fixed term, offered by a bank or other lender for a variety of uses ranging from refinancing debt to purchasing a vehicle.

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