Personal Loan Rates and Debt Statistics: 2021
Personal loans accounted for $148 billion in consumer debt in the fourth quarter of 2020, a decline from the same period in 2019, according to credit bureau TransUnion. Personal loans…
Annie Millerbernd
Annie Millerbernd is a NerdWallet authority on personal loans. Before joining NerdWallet in 2019, she worked as a news reporter in California, a data reporter at the San Antonio Express-News and a digital content specialist at USAA. Her work has been cited by the Northwestern University Law Review and featured in The Associated Press, USA Today and MarketWatch. She’s also been quoted in New York magazine and appeared on NerdWallet's "Smart Money" podcast as well as local TV and radio.
Posts by Annie Millerbernd:
LendUp No Longer Offers Installment or Single-Payment Loans
LendUp, an online lender that offered high-interest installment and single-payment loans to borrowers with poor credit, no longer originates new loans, according to a company spokesperson. The company did not…
Installment Loan Calculator
An installment loan is money you borrow in a lump sum and repay in fixed payments over a few months or years. An installment loan calculator can help you see…
Wells Fargo Won’t Close Personal Lines of Credit After All
A month after Wells Fargo made news for its decision to close customers’ existing personal lines of credit, the bank has changed course and will leave the lines open. The…
How to Chop Remodeling Costs When Wood Prices Are High
Wood costs have skyrocketed over the last year, leaving would-be home renovators to choose between waiting in price purgatory or moving forward and possibly overpaying. Lumber mills incorrectly predicted that…
Personal Loan Refinance Calculator
The best time to refinance a personal loan is when you’re offered a lower annual percentage rate. A lower rate can save you money by reducing the monthly payment and…
Are State Interest-Rate Caps an Automatic Win for Borrowers?
Small-dollar, short-term lenders, unburdened by a federal maximum interest rate, can charge borrowers rates of 400% or more for their loans. But more states are bringing that number down by…
Wells Fargo Ends Personal Lines of Credit: What It Means for Consumers
[Update Aug. 19, 2021: After receiving feedback from customers about its plan to close personal lines of credit, Wells Fargo reversed course and will now leave existing credit lines open.…
5 Tips to Keep a Landscaping Project on Time, Under Budget
Fresh landscaping can add a personal touch to a new home or spice up a backyard where you’ll host happy reunions. But if you’re just getting into the planning phase,…
Should You Use a Paycheck Advance App?
Paycheck advance apps let users borrow a small amount of their expected earnings, usually in exchange for a small fee, and repay it on their next payday. It seems like…
