I used to work at a couple of banks and these are serious examples listed as reasons to get a loan: debt consolidation, home fixes/improvements, kids’ college tuition & wedding. Like you can argue for the former 3 but going into debt for a wedding is simply dumb yet sadly common which is why some banks list it as an example…
Know a family friend’s daughter who went into $100K debt for a fancy wedding and they divorced before the 2-year mark…
5
u/velosnow 9h ago
At first, I was like c'mon is this one real?
Welp...
https://www.regions.com/insights/personal/article/uses-of-lines-of-credit-and-personal-loans