 TITLE: Are Unsecured Loans a Good Idea? CONTENT: Alternatives to Unsecured Loans\n-------------------------------\nIf you're having trouble getting an unsecured personal loan, there are several alternatives to consider.\n*   **Get a secured personal loan.** If you haven't established a credit history or are trying to rebuild poor credit, it can be tough to get an unsecured personal loan. A secured personal loan could provide the money you need. If you're looking for a lower interest rate than an unsecured personal loan offers, a secured personal loan may cost less. Just keep in mind that if you default on a secured personal loan, you'll not only damage your credit, but also lose your collateral. Review your budget carefully before applying for a secured personal loan to be sure you can manage the payments.\n*   **Borrow from friends or family members.** Sometimes the best place to look for money is close to home. Do you have friends or family members who can lend you the money you need? If so, be sure to put the loan in writing, just as you would with a bank loan, and take repayment seriously. Otherwise, the collateral you lose could be your relationship.\n*   **Use a credit card.** A credit card could provide the money you need for a major expense or even help you pay off high-interest credit card debt. If you can find a credit card that offers a 0% introductory APR on purchases or balance transfers, you can transfer a high-interest credit card balance to it or use it for a big purchase. Just make sure you can pay off the balance before the regular APR takes effect and interest starts racking up.\n*   **Set up a payment plan.** Do you need a way to pay an unexpected tax, dental or medical bill? Instead of borrowing money, see if you can negotiate with the IRS, your dentist or your health care provider to make installment payments on what you owe. END