{"id":22597,"date":"2020-06-07T10:07:10","date_gmt":"2020-06-07T09:07:10","guid":{"rendered":"https:\/\/traders-paradise.com\/magazine\/?p=22597"},"modified":"2020-07-10T06:22:25","modified_gmt":"2020-07-10T05:22:25","slug":"when-personal-loans-are-bad-for-you","status":"publish","type":"post","link":"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/","title":{"rendered":"When Personal Loans Are Bad For You?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_74 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#Personal_loans_are_excellent_products_when_you_need_cash_instantly_but_sometimes_it_isnt_the_best_choice\" >Personal loans are excellent products when you need cash instantly but sometimes it isn\u2019t the best choice.\u00a0<\/a><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#By_Guy_Avtalyon\" >By Guy Avtalyon<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#What_Are_Personal_Loans\" >What Are Personal Loans?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#What_Are_Personal_Loans_For\" >What Are Personal Loans For?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#When_Personal_Loans_Are_Bad\" >When Personal Loans Are Bad?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#Spending_on_wants_instead_of_needs\" >Spending on wants instead of needs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#They_are_unfavorable\" >They are unfavorable<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#Fixed_monthly_payments_and_term_do_not_suit_you\" >Fixed monthly payments and term do not suit you<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#Investing\" >Investing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#You_are_not_disciplined\" >You are not disciplined<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#Bottom_line\" >Bottom line<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h4><span class=\"ez-toc-section\" id=\"Personal_loans_are_excellent_products_when_you_need_cash_instantly_but_sometimes_it_isnt_the_best_choice\"><\/span><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-22598\" src=\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2020\/06\/when-loans-are-bad-t-1.jpg\" alt=\"When Personal Loans Are Bad For You?\" width=\"800\" height=\"533\" \/><br \/>\n<span style=\"font-weight: 400;\"><strong>Personal loans are excellent products when you need cash instantly but sometimes it isn\u2019t the best choice.<\/strong>\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h6><span class=\"ez-toc-section\" id=\"By_Guy_Avtalyon\"><\/span><a href=\"https:\/\/www.linkedin.com\/in\/guy-avtalyon-67941b54\/\">By Guy Avtalyon<\/a><span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p><span style=\"font-weight: 400;\">You don\u2019t think that such a situation is possible when personal loans are bad? Well, they can be. It is an old wisdom that banks approve loans only to people who do not need them. It is wisdom older than <\/span><a href=\"https:\/\/en.wikipedia.org\/?title=Money-lending&amp;redirect=no\"><span style=\"font-weight: 400;\">money-lending<\/span><\/a><span style=\"font-weight: 400;\"> is as a business and a very wrong one. Banks approve loans only to people and companies they judge to be able to return them. But every person should also <\/span><a href=\"https:\/\/traders-paradise.com\/magazine\/2020\/05\/online-lenders-frauds-how-to-recognize-them\/\"><span style=\"font-weight: 400;\">judge<\/span><\/a><span style=\"font-weight: 400;\"> the fact that if you are able to return a loan doesn\u2019t necessarily mean you should get one.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Personal_Loans\"><\/span><b>What Are Personal Loans?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In short, a personal loan is an installment loan that is not with a specific purpose. They are almost always unsecured, which means that when you take it you do not use some collateral against it. In other words, you do not guarantee with some property or belonging that it will be returned in full. Their term usually runs between 12 and 84 months, depending on the lender, and can usually be worth between $1,500 and $100,000. As with all other forms of <\/span><a href=\"https:\/\/traders-paradise.com\/magazine\/2020\/05\/the-benefits-of-online-borrowing\/\"><span style=\"font-weight: 400;\">borrowing<\/span><\/a><span style=\"font-weight: 400;\">, there is some annualized interest rate you need to pay on top of the borrowed amount. How much it is, depends mostly on the lender\u2019s judgment of your creditworthiness. In other words, the lender\u2019s opinion how likely you are to return it in full. If the lender sees you as very likely to pay it back you will get offered very low interest-rates and vice versa.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Personal_Loans_For\"><\/span><b>What Are Personal Loans For?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Personal loans are most often used in cases of unplanned need for cash and for debt consolidation. In life, things happen, and people find themself in a financial emergency. In a situation when you need <\/span><a href=\"https:\/\/traders-paradise.com\/magazine\/2020\/05\/apply-for-a-personal-loan-step-by-step-guide\/\"><span style=\"font-weight: 400;\">cash injection<\/span><\/a><span style=\"font-weight: 400;\"> very quickly they can be an excellent solution. Also, over the years the interest of various credit cards and credit lines can accumulate, and you can stumble upon a personal loan offer with much smaller interest rates. So, it may be a prudent move to consolidate all of your debts into one, and also decrease both your monthly payment rate and annual interest rate.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"When_Personal_Loans_Are_Bad\"><\/span><b>When Personal Loans Are Bad?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Personal loans are very versatile and can come very handy in some situations. But in some situations, they can be a bad solution, or even create more problems for you. So, here is when personal loans are bad for everyone.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Spending_on_wants_instead_of_needs\"><\/span><b>Spending on wants instead of needs<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Maslow\u2019s Theory of Human Motivation concludes that, for good mental health, a person first must satisfy needs and then wants. For your personal financial health, the same principle applies. Spending money on vacations, gadgets, and other unessential things while you have other essential things to worry about is <\/span><a href=\"https:\/\/traders-paradise.com\/magazine\/2020\/05\/is-payday-loan-riskier-than-other-loans\/\"><span style=\"font-weight: 400;\">not a smart<\/span><\/a><span style=\"font-weight: 400;\"> thing to do. Taking a personal loan for such wants even doubly so. Pampering to oneself is good for any person, but it must not be done at the expense. And a piece of sound advice for borrowing is that the debt for something should never outlive that very thing.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"They_are_unfavorable\"><\/span><b>They are unfavorable<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Another situation when personal loans are bad.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Because personal loans are usually unsecured, they can come with some financial drawbacks. First, and the most obvious, one is the high interest. Generally speaking, it can range from 5% to 35% per year, depending on the lender and your personal creditworthiness. Thus it is very important that you shop for the best possible rates, but also take into consideration some other financing offers, such as home equity credit lines, that could be more affordable for you.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Many lenders do charge so-called \u201cprepayment penalties\u201d. It\u2019s a fee you can be charged for paying off your loan earlier. And if you feel confident that at some point in the future you might be able and willing to pay it off, you must be careful to take into account this potential fee. Especially if you are comparing various offers. And to be aware that the higher the loaned amount, the higher this fee can be. And sometimes it can be a considerable amount.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some lenders also charge a so-called \u201corigination fee\u201d, which can be between 1% and 6%. It is often either calculated into monthly payments or take out of the loan amount. But either way, it increases your expenses of borrowing. And for short term loans, it can be a substantial increase compared to some other options.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Fixed_monthly_payments_and_term_do_not_suit_you\"><\/span><b>Fixed monthly payments and term do not suit you<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">For various people, for various reasons, fixed monthly payments can be unfavorable. If you have incomes that vary from month to month, or you are used to monthly minimum fees, the fixed monthly rate might be a financial pitfall of a sort for you. If you miss a payment or two, the lender could sue you for the outstanding debt. That could bring considerable financial hardship. The main characteristic of personal loans is the fixed monthly rate, and you must keep this in mind when shopping for borrowing options. If you are not 100% certain that through the whole term of the loan you can pay that amount, it might not be the best option for you.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Also, the term of the loan is fixed. And this inflexibility can be a hurdle if you unexpectedly find yourself in a bit of financial hardship. You will not be able to decrease the monthly rate by extending the term of the loan. This is exactly the situation when personal loans are bad for you.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Investing\"><\/span><b>Investing<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Personal loans should never be used for investments. Borrowing money is not a sound idea, because no investment is a sure thing. No matter how safe investment might seem, things can go south in a blink of an eye. And any investment is exposing yourself to financial losses. Borrowing for such is just a doubling of financial risk. You should always invest only money you can afford to lose.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"You_are_not_disciplined\"><\/span><b>You are not disciplined<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Personal loans are often used for consolidating existing debts. Various credit card loans and balances can seemingly be wiped off with a single personal loan. But they don\u2019t actually disappear. They are still there but in the form of a single consolidated monthly payment. And if you are unable to prevent yourself from again racking up unsustainable credit card balances, it might be a more sound decision to continue to limp along the way. But first and foremost, you should be honest with yourself. If the credit card is burning a hole in your pocket, you should think carefully about what is better for you in the long run, before your debts spiral out of control.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Bottom_line\"><\/span><b>Bottom line<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Personal loans are an <\/span><a href=\"https:\/\/traders-paradise.com\/magazine\/2020\/05\/good-reasons-to-take-a-loan-make-a-difference\/\"><span style=\"font-weight: 400;\">excellent option<\/span><\/a><span style=\"font-weight: 400;\"> when you need cash and need it quickly. But in some situations, they are not the best option available for you or your needs. There could be some more affordable options and even some which give you more flexibility to cover your needs.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Personal loans are excellent products when you need cash instantly but sometimes it isn\u2019t the best choice.\u00a0 By Guy Avtalyon You don\u2019t think that such a situation is possible when personal loans are bad? Well, they can be. It is an old wisdom that banks approve loans only to people who do not need them. [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":22599,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[1018],"tags":[2032,2033,1843,2035,2034,2036,2031],"class_list":["post-22597","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-personal-finance-secrets","tag-bad-personal-loans","tag-financial-problems","tag-personal-loans","tag-unfavorable-loans","tag-unfavorable-personal-loans","tag-what-are-personal-loans","tag-when-personal-loans-are-bad"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>When Personal Loans Are Bad For You? - Traders-Paradise<\/title>\n<meta name=\"description\" content=\"When personal loans are bad sometimes, you could be facing additional debts, expenses, financial hardship. Here is how can you fix it.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"When Personal Loans Are Bad For You? - Traders-Paradise\" \/>\n<meta property=\"og:description\" content=\"When personal loans are bad sometimes, you could be facing additional debts, expenses, financial hardship. Here is how can you fix it.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/\" \/>\n<meta property=\"og:site_name\" content=\"Traders-Paradise\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradersParadisecom\" \/>\n<meta property=\"article:published_time\" content=\"2020-06-07T09:07:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-07-10T05:22:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2020\/06\/when-loans-are-bad-f-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1100\" \/>\n\t<meta property=\"og:image:height\" content=\"733\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Editor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Traders_Paradis\" \/>\n<meta name=\"twitter:site\" content=\"@Traders_Paradis\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Editor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/\"},\"author\":{\"name\":\"Editor\",\"@id\":\"https:\/\/traders-paradise.com\/magazine\/#\/schema\/person\/ce94bb3c5a52307ca7be58f0e7b93ffe\"},\"headline\":\"When Personal Loans Are Bad For You?\",\"datePublished\":\"2020-06-07T09:07:10+00:00\",\"dateModified\":\"2020-07-10T05:22:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/\"},\"wordCount\":1176,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/traders-paradise.com\/magazine\/#organization\"},\"image\":{\"@id\":\"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2020\/06\/when-loans-are-bad-f-1.jpg\",\"keywords\":[\"bad personal loans\",\"financial problems\",\"personal loans\",\"unfavorable loans\",\"unfavorable personal loans\",\"what are personal loans\",\"when personal loans are bad\"],\"articleSection\":[\"\u00a0Personal Finance\"],\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/\",\"url\":\"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/\",\"name\":\"When Personal Loans Are Bad For You? - Traders-Paradise\",\"isPartOf\":{\"@id\":\"https:\/\/traders-paradise.com\/magazine\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2020\/06\/when-loans-are-bad-f-1.jpg\",\"datePublished\":\"2020-06-07T09:07:10+00:00\",\"dateModified\":\"2020-07-10T05:22:25+00:00\",\"description\":\"When personal loans are bad sometimes, you could be facing additional debts, expenses, financial hardship. Here is how can you fix it.\",\"breadcrumb\":{\"@id\":\"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#primaryimage\",\"url\":\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2020\/06\/when-loans-are-bad-f-1.jpg\",\"contentUrl\":\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2020\/06\/when-loans-are-bad-f-1.jpg\",\"width\":1100,\"height\":733},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/traders-paradise.com\/magazine\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"When Personal Loans Are Bad For You?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/traders-paradise.com\/magazine\/#website\",\"url\":\"https:\/\/traders-paradise.com\/magazine\/\",\"name\":\"Traders-Paradise\",\"description\":\"Talking Algo Trader\",\"publisher\":{\"@id\":\"https:\/\/traders-paradise.com\/magazine\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/traders-paradise.com\/magazine\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/traders-paradise.com\/magazine\/#organization\",\"name\":\"Traders-Paradise\",\"url\":\"https:\/\/traders-paradise.com\/magazine\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/traders-paradise.com\/magazine\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/07\/cropped-TP-Full-Landscape-transparent.png\",\"contentUrl\":\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/07\/cropped-TP-Full-Landscape-transparent.png\",\"width\":3816,\"height\":1402,\"caption\":\"Traders-Paradise\"},\"image\":{\"@id\":\"https:\/\/traders-paradise.com\/magazine\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/TradersParadisecom\",\"https:\/\/x.com\/Traders_Paradis\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/traders-paradise.com\/magazine\/#\/schema\/person\/ce94bb3c5a52307ca7be58f0e7b93ffe\",\"name\":\"Editor\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/traders-paradise.com\/magazine\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/bb0ccf0e7e25a4fa2fdbb8a41db860a35a9a574a1d7bb9f62b566ee95074f611?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/bb0ccf0e7e25a4fa2fdbb8a41db860a35a9a574a1d7bb9f62b566ee95074f611?s=96&d=mm&r=g\",\"caption\":\"Editor\"},\"url\":\"https:\/\/traders-paradise.com\/magazine\/author\/gorica\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"When Personal Loans Are Bad For You? - Traders-Paradise","description":"When personal loans are bad sometimes, you could be facing additional debts, expenses, financial hardship. Here is how can you fix it.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/","og_locale":"en_GB","og_type":"article","og_title":"When Personal Loans Are Bad For You? - Traders-Paradise","og_description":"When personal loans are bad sometimes, you could be facing additional debts, expenses, financial hardship. Here is how can you fix it.","og_url":"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/","og_site_name":"Traders-Paradise","article_publisher":"https:\/\/www.facebook.com\/TradersParadisecom","article_published_time":"2020-06-07T09:07:10+00:00","article_modified_time":"2020-07-10T05:22:25+00:00","og_image":[{"width":1100,"height":733,"url":"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2020\/06\/when-loans-are-bad-f-1.jpg","type":"image\/jpeg"}],"author":"Editor","twitter_card":"summary_large_image","twitter_creator":"@Traders_Paradis","twitter_site":"@Traders_Paradis","twitter_misc":{"Written by":"Editor","Estimated reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#article","isPartOf":{"@id":"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/"},"author":{"name":"Editor","@id":"https:\/\/traders-paradise.com\/magazine\/#\/schema\/person\/ce94bb3c5a52307ca7be58f0e7b93ffe"},"headline":"When Personal Loans Are Bad For You?","datePublished":"2020-06-07T09:07:10+00:00","dateModified":"2020-07-10T05:22:25+00:00","mainEntityOfPage":{"@id":"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/"},"wordCount":1176,"commentCount":0,"publisher":{"@id":"https:\/\/traders-paradise.com\/magazine\/#organization"},"image":{"@id":"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#primaryimage"},"thumbnailUrl":"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2020\/06\/when-loans-are-bad-f-1.jpg","keywords":["bad personal loans","financial problems","personal loans","unfavorable loans","unfavorable personal loans","what are personal loans","when personal loans are bad"],"articleSection":["\u00a0Personal Finance"],"inLanguage":"en-GB","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/","url":"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/","name":"When Personal Loans Are Bad For You? - Traders-Paradise","isPartOf":{"@id":"https:\/\/traders-paradise.com\/magazine\/#website"},"primaryImageOfPage":{"@id":"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#primaryimage"},"image":{"@id":"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#primaryimage"},"thumbnailUrl":"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2020\/06\/when-loans-are-bad-f-1.jpg","datePublished":"2020-06-07T09:07:10+00:00","dateModified":"2020-07-10T05:22:25+00:00","description":"When personal loans are bad sometimes, you could be facing additional debts, expenses, financial hardship. Here is how can you fix it.","breadcrumb":{"@id":"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#primaryimage","url":"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2020\/06\/when-loans-are-bad-f-1.jpg","contentUrl":"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2020\/06\/when-loans-are-bad-f-1.jpg","width":1100,"height":733},{"@type":"BreadcrumbList","@id":"https:\/\/traders-paradise.com\/magazine\/2020\/06\/when-personal-loans-are-bad-for-you\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/traders-paradise.com\/magazine\/"},{"@type":"ListItem","position":2,"name":"When Personal Loans Are Bad For You?"}]},{"@type":"WebSite","@id":"https:\/\/traders-paradise.com\/magazine\/#website","url":"https:\/\/traders-paradise.com\/magazine\/","name":"Traders-Paradise","description":"Talking Algo Trader","publisher":{"@id":"https:\/\/traders-paradise.com\/magazine\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/traders-paradise.com\/magazine\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/traders-paradise.com\/magazine\/#organization","name":"Traders-Paradise","url":"https:\/\/traders-paradise.com\/magazine\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/traders-paradise.com\/magazine\/#\/schema\/logo\/image\/","url":"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/07\/cropped-TP-Full-Landscape-transparent.png","contentUrl":"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/07\/cropped-TP-Full-Landscape-transparent.png","width":3816,"height":1402,"caption":"Traders-Paradise"},"image":{"@id":"https:\/\/traders-paradise.com\/magazine\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/TradersParadisecom","https:\/\/x.com\/Traders_Paradis"]},{"@type":"Person","@id":"https:\/\/traders-paradise.com\/magazine\/#\/schema\/person\/ce94bb3c5a52307ca7be58f0e7b93ffe","name":"Editor","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/traders-paradise.com\/magazine\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/bb0ccf0e7e25a4fa2fdbb8a41db860a35a9a574a1d7bb9f62b566ee95074f611?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/bb0ccf0e7e25a4fa2fdbb8a41db860a35a9a574a1d7bb9f62b566ee95074f611?s=96&d=mm&r=g","caption":"Editor"},"url":"https:\/\/traders-paradise.com\/magazine\/author\/gorica\/"}]}},"_links":{"self":[{"href":"https:\/\/traders-paradise.com\/magazine\/wp-json\/wp\/v2\/posts\/22597","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/traders-paradise.com\/magazine\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/traders-paradise.com\/magazine\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/traders-paradise.com\/magazine\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/traders-paradise.com\/magazine\/wp-json\/wp\/v2\/comments?post=22597"}],"version-history":[{"count":3,"href":"https:\/\/traders-paradise.com\/magazine\/wp-json\/wp\/v2\/posts\/22597\/revisions"}],"predecessor-version":[{"id":23412,"href":"https:\/\/traders-paradise.com\/magazine\/wp-json\/wp\/v2\/posts\/22597\/revisions\/23412"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/traders-paradise.com\/magazine\/wp-json\/wp\/v2\/media\/22599"}],"wp:attachment":[{"href":"https:\/\/traders-paradise.com\/magazine\/wp-json\/wp\/v2\/media?parent=22597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/traders-paradise.com\/magazine\/wp-json\/wp\/v2\/categories?post=22597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/traders-paradise.com\/magazine\/wp-json\/wp\/v2\/tags?post=22597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}