Why Ignoring These 5 Refinancing Tips May Affect Credit Score
The COVID-19 crisis brought about a significant change in the way people handle their finances. Below are some numbers recently reported by Forbes: Personal loan debt growth had slowed by 6%, primarily owing to lenders being hesitant to offer loans as millions were losing jobs left and right. The average borrower’s loan debt was almost the same in 2020 as in 2019, though loan accounts have increased by a modest 8%. Average loan sizes dropped by almost USD$ 1,200, from USD$ 6,012 in January 2020 to USD$ 4,815 by yearend. Debt consolidation and refinancing accounted for over 60% of loan …
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