Personal loans can be beneficial, but require careful consideration to avoid financial pitfalls.

From Yahoo Finance: 2023-12-15 17:57:00

Personal loans offer quick cash for debt consolidation or emergencies. But misuse can worsen financial situations. Good debt enhances finances, while bad debt leads to unnecessary purchases. Loan amounts range from $1,000 to $100,000, with rates varying from 6.5% to 35.99%. Carefully assess needs and alternatives before committing to a loan.

Read more: Should I get a personal loan? 7 questions to ask first.