Personal loans are not good or bad. Like money, personal loans are neutral. They are either right for you or wrong for you depending on your circumstances. And on your reason for borrowing.

What is a loan? It seems like a simple question. You need money, you ask someone to lend it to you, and you pay it back. But there are many types of loans for many purposes. This article covers the attributes of a loan and helps you decide what kinds of financing are right for your needs.

You’d think that paying off a car loan early would always be a good thing. But you should also know potential disadvantages of paying off a car loan early before you write that check.

Personal loans are usually unsecured. Unsecured personal loans are only backed by your promise to repay them – your “personal” guaranty. If you are having a hard time getting approved for an unsecured loan, or you don’t like the interest rate the lender offers, consider a secured personal loan. Secured personal loans are backed by collateral – an asset that the lender can repossess if you don’t repay the loan.

If you’re considering a personal loan, you may be concerned about their effect on your taxes. Can you write off or deduct personal loans? Are personal loan proceeds considered taxable income? Most personal loans don’t affect most people’s taxes – but you should know the exceptions or face possible costs.

It can be harder to find loans if you’re self-employed. But lenders will approve installment loans for self-employed applicants if:

• Their credit meets minimum guidelines
• Income is consistent and reliable
• The business and industry is healthy

Self-employed borrowers often have to supply more documentation than wage-earners to prove these things. This article illustrates what you’ll probably need to apply for a personal loan when self-employed.

Getting a personal loan is about more than securing loan approval:

• Budget and manage your personal loan payments
• Pay on time to improve your credit history and score
• Consider refinancing or paying off your personal loan early

A personal loan can be your first loan and opportunity to build credit or a tool to consolidate and pay off credit that you already have. Here’s what you need to know to manage it wisely.

If you have a low credit score, can you repair your credit with a personal loan? You may be able to use a personal loan to improve your credit score. This article explains how to use a personal loan to fix your credit score.

How do you know when it makes sense to refinance a personal loan? The personal loan refinance decision depends on three factors:

• Can you qualify for a personal loan refinance?
• Will you save money by refinancing your personal loan?
• Are there better alternatives to applying for a new personal loan?

This article will walk you through these considerations and teach you how to refinance a loan.

For most companies, business loans are an essential part of doing business. Knowing how to borrow efficiently and cost-effectively can make a difference to your bottom line. And possibly even the survival of your enterprise.