Virginia residents and others who have credit card debt may find it easier to pay off by converting those balances into a personal loan. Personal loans can come with an interest rate of about 5% for those who have good credit while the average credit card interest rate is about 18%. Another benefit for borrowers is that there is generally no need to use collateral to secure a personal loan.
Once the dust of your divorce has settled, you will be ready to move forward in your new life but may find yourself hindered by certain unexpected financial challenges. While divorce will certainly require some adjustment, you could be left with insurmountable financial obligations and insufficient income.