Lacking Savings, More and More Americans Are Turning to Personal Loans

0
726

amex_personal_savings

By Chris Metinko

With fewer and fewer Americans having any kind of savings to turn to when times get unpredictable, more are looking to personal loans to cover life’s shortfalls.
“Personal loans in and of themselves are not necessarily problematic,” said Kevin Gallegos, a vice president at Freedom Financial Network. “In fact, they can be helpful tools for many consumers using them to help pay off credit card debt.”
Regardless of how people are using them, personal loans certainly are seeing a rise in popularity. According to new numbers from TransUnion, the number of consumers with personal loans has grown 18% from 23.07 million in the third quarter of 2013 to 27.34 million two years later. It is estimated there are now $82.52 billion in unsecured and $165.46 in secured loans.
However, experts say there are some things people need to be careful about before signing up for that loan.
“Read the Full Article at www.mainstreet.com >>>>”

ATTENTION READERS

We See The World From All Sides and Want YOU To Be Fully Informed
In fact, intentional disinformation is a disgraceful scourge in media today. So to assuage any possible errant incorrect information posted herein, we strongly encourage you to seek corroboration from other non-VT sources before forming an educated opinion.

About VT - Policies & Disclosures - Comment Policy
Due to the nature of uncensored content posted by VT's fully independent international writers, VT cannot guarantee absolute validity. All content is owned by the author exclusively. Expressed opinions are NOT necessarily the views of VT, other authors, affiliates, advertisers, sponsors, partners, or technicians. Some content may be satirical in nature. All images are the full responsibility of the article author and NOT VT.
Previous articleHormel Foods employees help veterans across the state
Next articleAfghanistan, Kuwait veteran Yancey Farrington determined to fight cancer with help from We Honor Veterans program