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Tips to ease the burden of a growing personal debt

Debt is an obligation between the two parties. The debtor is the one responsible in paying money or other agreed-upon value to another party, which is the creditor. It is different from an immediate purchase because it is a deferred payment, or series of payments. Debt is a lower cost source of funds and it is not only the common people who avail it but corporations and the government as well. When national debt is used appropriately, it can be used to foster the long-term growth and prosperity of a country. In the United States, total consumer debt that includes mortgages, auto loans, credit cards and student loans is now at $14.9 trillion. In June 2021, a CNBC report stated that the average American has $90,460 in debt. American’s personal debt is indeed growing closer to its 10-ye

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How to check Personal Loan eligibility? What are the documents required?

Before thinking to apply for a Personal Loan, it is essential to know if you can get one. This is only possible with the use of a Personal Loan eligibility calculator. You find this indicative tool on the official website of the banks or other financial institutes. Else, you can check them through a third-party financial website. The following steps provide an insight on how to verify your eligibility for the loan: Steps for checking eligibility online: Visit the lender’s website Click on the Personal Loan option You get redirected to the section where you need to add the resident city details Next, select your residence type – whether you live in a flat or an apartment or own home Now, enter your age and date of birth Then click ‘continue’ On the next page, enter

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