7 personal loan myths that could cost you money

Personal loans can be an affordable financing option for major expenses and debt consolidation, but misconceptions around how they work may prevent some people from taking advantage of them. These misunderstandings could also lead to unnecessarily high fees and interest rates. Learning how a personal loan works could not only help you improve your financial situation, but it may also save you money along the way. Here are some common myths about personal loans, along with the real facts you should know be ...