When is a personal loan a bad idea? 12 Articles

by Marco Angioni II

There are two types of personal loans that come to mind when discussing the issue of when a personal loan is a bad idea. The first, and by far the worst, is a payday loan. The second is a secured loan from the bank. Pay...read more

by Tina Groat

The payday loan industry has generated controversy by giving high interest rate loans to customers who would otherwise not be able to obtain cash advances. Although payday lenders provide a service, what they are doing is...read more

by David Riel

A personal loan can be a bad idea in a variety of circumstances. Although it may seem like a good idea at the time, and a solution to your financial problems, it can wind up creating a lot of financial problems for you dow...read more

by Cloudy Serendipity

When is taking out a personal loan a bad idea? What you should be asking is, when is taking out a personal loan a good idea? The answer to that, nine times out of ten, is never. Some of the main reasons that people ta...read more

by Erinmarie

A personal loan usually involves you being handed a check for a large amount of money. The lender has no way to know what you're really going to do with it, and can only hope you will pay it back. If you have serious p...read more

by Gwen Carwell

I for one went to cash call out of desperation. I've thru hell and back with these people, i started by paying on time every month via ach. they took out several pymts when i was not due and overdrew my acct. So i stopped ...read more

by Teresa Meakin

Some people just don't think of the consequences involved when taking out a personal loan. A bad idea for taking out a personal for example is if you just wanted the money to purchase the latest flat screen TV, or to purc...read more

by Sid De Knees

When taking out a personal loan with a company you know little about. when it is a joint loan with a family member or friend. Or on their behalf because they have no or a poor credit rating. When the item you are p...read more

by Sanford Jones

When times get really rough we look to a personal loan or a quick fix to help us out of our problems. There is a newer form of loan scam that is out and currently being endorsed by a Hollywood actor. That company is kn...read more

by Veronica Foust

A personal loan is a bad idea because usually you get stuck with a high interest rate and it takes forever to pay it off. You can get caught up in this cycle because the lenders make it very tempting. It is a bad idea when...read more

by Kim Keskinen

The too personal loan. Why is it that the minute one is in debt, you are treated and made to feel like a criminal. Suddenly all your rights to privacy are no longer applicable and credit card companies can even take money...read more

by Rosamina

Once upon a time, i decided that i would never, ever take out a personal loan. I thought of it like this; if i am always broke-after pay day-then I won't have the money to pay back a loan. If I am not broke, I won't need ...read more