Should You Get a Personal Loan to Pay Off Existing Debt? (plus IMPORTANT documents for creating a loan agreement)
Can borrowing more money be the path to paying off your existing debt? For some, this is a viable method to walking a debt-free life or at least keeping an existing balance from getting out of hand. But first, it’s important to consider what this decision entails by asking other key questions.
In this video we’ll consider:
-The most common types of debt.
-If a personal loan can lower monthly payments.
-If consolidating several payments into one balance is best.
-How to draft an official loan agreement when borrowing from a friend or family member.
You can download official loan agreements here:
This video is strictly for educational purposes and is in no way intended to provide legal advice. We do not make any warranties about the completeness, reliability, and accuracy of this information. Any action you take upon the information on this video is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of our videos.