Personal loans | Credit lines | Balance transfer | Education loans
Should you take a personal loan for debt consolidation?
Taking a personal loan for debt consolidation can simplify payments and lower interest rates. It's a good option if the new loan terms are more favorable than your current debts.
Will a debt consolidation loan affect my credit score?
A debt consolidation loan can temporarily lower your credit score due to the credit inquiry and new account. However, making timely payments can help improve your score over time.
Can debt consolidation improve your credit score?
Yes, debt consolidation can improve your credit score if it helps you manage payments and reduce your overall debt. Consistently paying on time is key to boosting your score.
Student loans, mortgages and business loans — Everyone has fallen into debt at some point in their lives. While the aforementioned debts are pretty obvious, there are some debts you may have incurred which are quietly eating away at your bank balance without you realising it. Here are four ways you are racking up debt without knowing it, and the strategies that you can use to quickly and efficiently manage your debt in Singapore.
if you're struggling to keep up with repayments, your debts may have morphed into a debt crisis. Don't be afraid to seek debt management help from financial professionals if you think you're in a debt crisis. Watch out for these five warning signs and act quickly.
Using your credit card responsibly and paying in full every month will help you to build a strong credit history, which could put you in good stead when applying for essential credit such as a future car loan or home mortgage.