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Robert Henderson

Last updated: 10/2019

Find the Best Personal Loan for Your Needs

Georgia has an estimated average score of 644 and an estimated $6,470 in debt per person. It ranks 24th in debt and has 18% of its population with declining credit. The terrific news about this amazing state is that it is on fire economically. Its largest city in Atlanta is blowing up with jobs and new businesses are moving into this city because it has low taxes and favorable business regulations.

Background

The estimated median household income of Georgia was $51,244, as of 2016, which is lesser than the National Average. Income being less is another reason for people getting into debt, as the cost of living in GA is moderately high.

Grocery, transportation, housing, and utilities are all priced according to the area in which you live. The rural parts have a lower cost of living in comparison to the urban parts of Georgia.

Also, the low average credit score of the state is not flattering. It may indicate mismanagement of debt in the state. People may be spending more than they earn, and without budgeting their expenditure.

Personal Loans for Debt Consolidation

Managing debt can be quite tough if there are several credit cards with varying interest rates. In a bid to manage this, many people only end up paying only monthly minimum payments, which does not help them pay down the debt.

Since they cannot pay down the debt, saving money becomes a distant possibility. In such cases, one can look at Personal Loans as an option.

You can take out a personal loan, and pay down the debts on all your cards with high-interest rates. This now means that there is only one debt, with one interest rate to be worried about.

Personal Loans in Georgia

Since personal loans have fixed interest rates, and fixed term, it may be easy to plan the repayment.

Since this involves following up with just one payment, the hassle of late or missed payments is not there. If you pay this loan properly, it will improve your credit score, and help in building a positive credit history as well.

Personal Loans for Medical Expenses

Health care is quickly becoming an expensive thing for people in Georgia. Even people with good health insurance are finding it difficult to cover the cost of health care.

Health care premiums, copays, hidden fees for out-of-network providers, emergency services, uncovered treatments, and so forth are creating a crater in people’s pockets.

Though budgeting and a line of credit may help with regular payments, sometimes emergencies might leave you with a hefty medical bill.

You can look at personal loans as an option to clear the medical bills, and then go about repaying the loan to be debt free. If you’re wondering how to get a personal loan for these kinds of expenses then look at the banks below.

Best Banks for Personal Loans in Georgia

Here are the best banks in the state to get personal loans:

BrandBank

One of the key features of BrandBank is its rate discounts on mortgages, personal loans, and consumer loans if you get higher-level accounts with them.

Fidelity Bank

Fidelity Bank currently has 65 branches across the state, all of which deliver the same level of service when you apply for loans, banking accounts, retirement accounts, and many more.

Ameris Bank

Aside from their low requirements when opening an account with them, they also a wide range of loan products which include boat loans, personal loans, RV loans, and the likes.

CharterBank

With CharterBank, you can get credit cards with no annual fees, low-interest personal loans, as well as a complimentary gift upon opening an account with them. You can apply online to open an account with them with just your Social Security number and driver’s license.

RBC Bank, N.A.

Aside from loans and other common banking products, RBC Bank also allows you to move and exchange money from U.S. to Canada in an instant.

Hamilton State Bank

Hamilton State Bank is a great option if you’re looking to offers credit cards, lines of credit, personal loans, and mortgages. You also get a lot of perks with their Hamilton Club checking account.

A word of caution: Payday installment loans, cash advances, and car title loans may be easier to get but remember they come with much higher interest rates. They can be a good option if you’re absolutely sure you can pay it off quickly.

Christine has a solid background in personal finance as she spent the last eight years working at one of the biggest banks in the US. She managed her own team of financial advisors that helped hundreds of people with their financing needs. Her understanding of different financial products and loans helped her move up the ranks quickly after graduating with a degree in Business Administration.

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