America has reached $1 trillion in total revolving credit in the year 2018, according to the Federal Reserve. It means a hefty monthly financial obligation that could weigh down your budget for months, years, and even decades.
If you will not act now, you might be stuck in an endless debt cycle.
But to get out of your debt, is it wise to use a personal loan? The answer depends on several factors. Are you qualified for a low-interest rate? Or do other alternatives work better for you? To guide you in making a wise decision, let me discuss the pros and cons of using a personal loan to pay off debt.