
What is unsecured debt?
Personal loans and student loans are common types of unsecured debt.
Heidi Rivera is a personal finance writer and reporter for Bankrate. Her areas of expertise include personal loans, student loans and debt consolidation, in addition to data collection and analysis. Heidi started covering personal finance topics in late 2018 and her work has been featured in several publications, including Money, MSN Money, Yahoo Finance and Money Under 30.
Before working in finance, Heidi spent several years in post production, working as a subtitle editor for different TV and film studios.
When she isn’t giving her best financial advice, Heidi enjoys spending time with her cats, crafting and pinning home decor ideas on Pinterest.
Before applying for any loan product, make sure you understand how the APR (annual percentage rate) works and how it accrues. I certainly didn’t know this when I took out private student loans in college and was surprised to see how much my balances had grown once I graduated. If possible, make interest payments even when you’re in your grace period — this can make a world of difference in the long run.
Personal loans and student loans are common types of unsecured debt.
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Debt consolidation can help you stay organized and possibly save money.
An APR is a snapshot of how much your personal loan will cost each year.
EarnIn can help you tide things over until your next paycheck by providing cash advances of up to $750, without fees.
Bankrate’s list of best debt relief companies is curated with consumers in mind. We look for companies with transparent terms and conditions and that have a well-established and proven track record when it comes to helping people succeed in their path to becoming debt-free.
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