If you need to borrow money to consolidate credit card debt, make home or auto repairs, or move across country, a personal loan can help cover your expenses.
Most personal loans are unsecured, meaning they don’t require collateral like a house or car, and typically have higher interest rates than secured loans.
The FTC recently filed a lawsuit against Lending Club, a company offering personal loans online.
Source: FTC Scam Alert Feed
FTC: Lending Club misled people about hidden fees