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What Is A Personal Loan?

Savings Corner

If you’re looking to get a personal loan, you’ll have to complete an application and wait for approval — a process that may take anywhere from a few hours to several days. However, some lenders may offer terms of up to 12 years on larger personal loans. The lender may be able to seize those assets if you fall behind on payments.

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Meet Jackie. She and Her Husband Paid off $147,000 in Debt | Debt Free Stories

Family Balance Sheet

About $52,000 of that $147K was consumer debt (credit cards, a student loan, a car loan, a home improvement loan, etc.) We paid for braces, college tuition for my son, and did fun stuff like traveling while we were paying off debt. Was there a particular event? The rest was our house.

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