Story preview
Continue reading on the publisher site for the full article.
Read on publisher →Rural Radio Network
News Atlas is free and independent. If it’s useful to you, you can support it with a coffee. ☕ Buy me a coffee
Coverage
Tone
Outlets covering it
13
in the last 3 days
First reported
4 days ago
12 outlets since
Countries
12 other outlets reported this story in the last 3 days.
Americans are turning to personal loans in record numbers to manage debt and rising costs, but experts warn the strategy can lead to an even deeper debt cycle.
More than a quarter of heavily indebted Americans can only make minimum payments, a new Freedom Debt Relief and Money.com survey finds.
Consumers struggling with credit card debt may be able to save money by using a personal loan to lower their interest rate, but financial experts say the move only works if borrowers qualify for favorable terms and compare offers carefully.