Though South Carolina’s economy is moving forward “full throttle” and shows no signs of slowing down, we all know that a number of unexpected expenses can arise at any moment in life. These expenses can cost well outside your pre-planned budget, or even what you have in your bank account at the moment.
These emergencies can pop up in ways such as:
- Medical bills piling up, especially with the cost of health insurance in South Carolina averaging at $249 per month.
- Home repairs to fix the normal wear and tear of your home, from flooring to furniture to walls.
- Car repairs.
- Unexpected big purchases.
When you don’t have cash on hand to take care of these emergency expenses, a personal loan could be a way to fill in the gap.
The average resident of South Carolina has $6,157 in credit card debt. This is where personal might fulfill another purpose: as a way to consolidate debt into one easy monthly payment.
Where can I get a personal loan in South Carolina?
One place to get a personal loan in South Carolina is online. Unlike banks and credit unions, where you have to personally go to your local branch to fill out paperwork, online loans could be approved in minutes from the comfort of your own home.
With online personal loans, you can start the process from anywhere with internet access, or even your phone.
What should I watch out for when requesting a personal loan in South Carolina?
Here are some general things you should be on the lookout for when it comes to shopping for a loan.
- Lenders who request upfront payments (though fees may be added to the principal balance).
- Ads, telemarketing calls and other forms of outreach that promise guaranteed loan approval, even if they don’t run a credit check.
- Lenders that request you wire or send money to them in order to proceed with an application.
- Individuals who guarantee you will be approved for a loan if you pay them.
Ideal and legitimate loans will:
- Require a credit check before you are approved
- Have an interest rate that is based upon your credit score and other factors.
- Request information such as your annual income and your monthly expenses.
Disclaimer: This is not legal or financial advice. Please consult a legal or financial advisor for your specific situation.