 TITLE: What Are the Different Types of Personal Loans? CONTENT: Types of Personal Loans to Avoid\n--------------------------------\nSome personal loans are generally last-resort options that you should try to avoid.\n*   Payday loans: Payday loans are short-term loans with very high fees. These may leave borrowers in a debt cycle where they wind up taking out new loans to pay off their current debts.\n*   Title loans: Auto title loans can be easy to get, but you need to use your vehicle as collateral. They may have short repayment terms and high interest rates that could leave you worse off if you can't afford a payment and the lender repossesses your vehicle.\n*   Pawn shop loans: Some pawn loans may be cheaper than payday loans. However, you risk losing the items you pawn or may have to pay a fee to extend the repayment term.\nWhile your options may be limited if you have bad credit, these personal loans may have high fees or interest rates and short repayment terms that make them difficult to repay. Missing payments or defaulting on loans will only worsen your credit situation. END