Make sure you understand the payment schedule and the different types of interest rates and refinancing options you are offered with your personal loan. If you aren't sure, ask for written information and take your time to compare the options offered by different lenders before making a final decision.

Be very careful about trying to get a personal loan on the Internet, because of the increased potential for identity theft. This is especially the case if you receive an offer by email; these days, most of us without good spam blockers get several a day, and they're all scams.

When applying for a personal loan, it's best to be scrupulously honest. A poor credit history doesn't necessarily mean you can't get a loan, but it's likely that a loan officer will turn you down immediately if they found out you've lied on your application.