The total outstanding personal loan balance in America is $249 billion – an increase of 64% over the past five years. By comparison, credit card debt rose 33% in that same timeframe. About 9% of U.S.

You can take out multiple personal loans at once, though not necessarily from the same lender. Before borrowing, consider whether you have room in your budget for additional debt. There are ...

Ben Woolsey is a full-time Associate Editorial Director at Investopedia, focusing on financial products and services. He has worked in marketing, operations, and content management roles for banks, ...

Christian Allred has been a professional writer since 2020. He's written for some of the industry’s top brands and publications, including Rocket Mortgage, PropStream, Propmodo, and CRE Daily.

Financially secure Americans are increasingly turning to unsecured personal loans, pushing total balances to an all-time high of $241 billion in the third quarter as retail sales in the U.S. hit ...

A personal loan is a type of installment loan that allows you to borrow money to cover a one-time expense. The most common reason people use personal loans is to pay down high-interest debt, thanks to ...

Learn the top reasons people take out personal loans—from debt consolidation to emergency expenses—and how they can impact ...

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