Anna was determined to pursue an interior design course to become a professional designer. Her interest and passion for interior design were provoked by life-simulation games. She was always found playing The Sims, and her parents asked her to focus on her studies. However, she loved the idea of creating virtual people that lived happily in the houses she created.
Time passed quickly, and she was accepted to the Savannah College of Art and Design, the university of her dreams. Her parents were happy but realized they didn’t have enough savings to get her admitted into college.
“You are not alone; we will somehow manage to get the funds and get you into the college. We don’t want you to be at a loss just because we didn’t have enough money to let you pursue your dreams.”
However, the substantial admission fees, an empty bank account, and ongoing expenses brought her mother into tears. Her parents also decided to go for a personal loan, but all lenders offered too costly options. They somehow managed to gather funds using a personal loan, and Anna started her university, but she struggled to meet her ends due to a lack of finances. Apart from that, she didn’t have a good credit score to apply for a loan.
“I was like, I can’t do this anymore because it’s too expensive. Because I started paying my fees myself, I was worried because I knew what student debt and personal loans are. I knew the personal loan would keep piling up, and I didn’t know how long it would take to repay the personal loan while still surviving life. Besides that, I had no money in my bank account.”
Fast forward four years, Anna started her career with $155,000 in student debt. The personal loan had accumulated because of the high-interest rate, and her credit score was too low. Paying off the debt as soon as possible was her priority, so she created a detailed budget to evaluate how much she had left for monthly payment for the personal loan. Meanwhile, her father got sick, and they didn’t have enough money to pay the medical bills either. So instead of paying off her student debt, she had to focus on her father’s health and support her parents using the loan amounts. The hard credit inquiry from some lenders also caused her credit score to go down further.
After doing many internships, Anna started working for different design studios. She was gradually transitioning into her professional career as an interior designer. After two years of graduation, she started receiving appreciation for her creativity and design work from different companies. At that time, she had paid a large amount of personal loans, but her debt-to-income ratio was still high. Furthermore, she still had to pay loan amounts of $79,000, including the interest rate. Besides, her several personal loans had affected her credit report, and she had nothing in her bank account.
“I feel like I’ve been very responsible financially. I have paid considerable money out of my personal loan, but I still feel like I’m in debtor’s prison with a huge interest rate.”
Anna was making a liveable income, but it wasn’t still enough to make the monthly payment for the student debt at hand, and she didn’t know what to do about it. Meanwhile, her company transferred her to California, and she had to move there with her parents. She contacted an equal housing lender that helped her get a new house.
The new place, new people, origination fees of the loan, and the mortgage took a toll on her. The mortgage rates were rising, and half of her salary would go into the mortgage and student debts with high interest rates every month. Though timely payments had improved her credit score a bit, it wasn’t still up to the mark. Moreover, her debt-to-income ratio was high, which made it more difficult for her. Anna lost all her hopes because her credit history wasn’t good enough, and all lenders had a specific range for a good credit score.
“We live in a time when higher education doesn’t have value. The system doesn’t function well, and you are completely drowned in debt. So the failures or debt you’re experiencing shouldn’t be totally on you. There are desperate situations and systematic failures that lead to such circumstances.”
Anna decided she couldn’t handle this anymore but didn’t want to give up. So, she started online research to find ways to improve her financial condition and pay off her personal loan. She contacted many lending platforms and provided her details, income, and debt information.
Though her income was good, she couldn’t get a positive response from any bank or credit union and any financial institution or personal loan provider because of her credit history. Most lenders offered a high interest rate personal loan, which could become another pitfall for her.
While some lenders did not consider her credit history, they offered personal loans at a high-interest rate. She also wanted to go for a debt consolidation loan to improve her credit score while paying off the personal loan. However, she couldn’t get a good deal with a suitable personal loan and origination fee.
She finally came across RadCred, an online platform that has made banking and lending easy. Anna was lucky to use this platform as it made getting a personal loan easier despite her poor credit score.
“While having personal loans isn’t anything to be proud of or happy about, I am glad to say that the personal loan is no longer the dark shadow emerging over every financial decision I have to make.”
Anna’s payments are now more manageable, and she has paid off $30,000 within a year, all while launching her own design company. Taking control over her financial decisions empowered Anna to repay her personal loan and freed her some money to invest in her privately-funded business.
“Radcred served as a bridge between the best lenders on the market and me. Now I have affordable monthly payments that are automatically deducted from my bank account according to the loan term. The platform offers the best online personal loans, payday loans, and other loans with different loan amounts with instant credit approval.”
Though Anna is still on the road to paying off her debts, now she’s going out on her own with the help of the best personal loans. Along with paying off her debts, she’s working on her design studio and is utilizing payment flexibility offered by Radcred.
“My biggest fear was losing everything because I was out there alone, with no money, and suddenly Radcred changed my idea of failure and success. And now I ask myself, ‘Why was I so worried?'”
Anna’s story tells us that despite debt, you can use many things to make yourself debt-free. You can utilize personal loans to pay for medical bills, student loans, home maintenance, mortgage, automobile purchase, debt consolidation, or even find an equal housing lender. RadCred is one of the best options as it works with a vast network of lenders that offer the best personal loans with a flexible monthly payment plan.
Moreover, you can rely on this platform to get a reasonable loan term if you have a bad credit score. In addition, Radcred has good educational resources and financial advice to improve your credit score. You can count on their personal loans or payday loans for debt consolidation. Once you start making regular monthly payments, you can report it to the major credit bureaus to improve your credit report.