yaknow_bree asked:
I’m trying to get back into school and currently have a govermant student loan without a fixed APR. It seems as if I’ve been paying it for so long and not getting anywhere. I would like to see about different options like going through my personal bank but just not sure exactly how to go about it. Your answers would be greatly aprreciated.
Fixed Rate Home Equity Loans
I’m trying to get back into school and currently have a govermant student loan without a fixed APR. It seems as if I’ve been paying it for so long and not getting anywhere. I would like to see about different options like going through my personal bank but just not sure exactly how to go about it. Your answers would be greatly aprreciated.
Fixed Rate Home Equity Loans
Tags: Personal Bank, Personal Credit, Personal Line Of Credit, Personal Loan, Student Loan, Unsecured Credit, Unsecured Loan, Unsecured Personal Line Of Credit
3 responses to What is the difference between Unsecured Personal Line of Credit and Unsecured Loan? Which would be better?
Consolidating Debts
Not a lot of difference, except the way it is distributed to you and there is probably a difference in the interest payed, I would find which interest is lower and go with that.
Mortgage Finder
My unsecured line of credit only charges prime plus 1% automatically. Any additional payments have to be made by me, and it needs to be paid within 5 years.
My previous unsecured loan was a set amount each month to pay off the balance within 36 months.
The line of credit offered better liquidity, but charged more on the whole as they make money on interest while they are waiting for me to pay it.
What is the difference between Unsecured Personal Line of Credit and Unsecured Loan? Which would be better?
Student Loan Refinancing
An unsecured line of credit can be taken as you need it or all at once. You only pay interest on the money you have actually borrowed. An unsecured loan gives you all the money up front and you pay interest on all of it.
You have to figure the difference in interest rates and how soon you will need all the money. Your banker can help you with those figures.
What is the difference between Unsecured Personal Line of Credit and Unsecured Loan? Which would be better?
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