There’s a lot of good news about personal loans.
The number of people applying for them has dropped, the median monthly payment is less than half of what it was in 2008, and they’ve generally fared better than conventional loans.
But it turns out there are a few things that you might not know about the loans.
They’re expensive and you’re not likely to get much in return, especially when compared to traditional loans.
Here are some of the things you should know before applying for a personal loan.