Are Personal Loans Bad? When Not to Apply
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Editor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct compensation from advertisers or partners. Read more about our Editorial Guidelines and How We Make Money.
When a Personal Loan Might Be a Good Idea
Home Improvement
Debt Consolidation
Emergencies
When a Personal Loan Is a Bad Idea
Discretionary Spending
Problems Managing Debt
No-Credit Check Loans
You Have Access to Cheaper Credit
Paying for Basic Expenses
Borrowing to Invest
Weighing the Pros and Cons
Explore Personal Loan Options From Lantern
Photo credit: iStock/Dmitry Kopylets
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About the Author
Su Guillory is a freelance business writer and expat coach. She’s written several business books and has been published on sites including Forbes, AllBusiness, and SoFi. She writes about business and personal credit, financial strategies, loans, and credit cards.
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