Married to debt: Couples are taking out loans to pay for their weddings

Demand among Americans, who are already holding record levels of debt, for help financing weddings are giving rise to an industry of personal loans marketed specifically to brides and grooms. Online lenders say they are issuing up to four times as many “wedding loans” as they did a year ago, as they look to reach a fast-growing demographic: Couples who are picking up the tab for their own nuptials, either by choice or by necessity. While borrowing itself is nothing new — credit cards and family members have funded weddings for years — financial advisers say these types of online loans take lending a step further, by directly targeting 20- and 30-somethings on their computers.

Source: www.washingtonpost.com