 TITLE: The Difference Between a Personal Loan and a Line of Credit CONTENT: When Should I Choose a Personal Loan?\n-------------------------------------\nYou can use a personal loan for a variety of reasons. The freedom to use the money you borrow as you see fit (for the most part) is one of the features that makes personal loans attractive to so many people.\nIf you're looking for a list of ways to use a personal loan, here's a helpful guide. Additionally, here are a few common reasons why people take out personal loans:\n*   Debt consolidation\n*   Major medical expenses\n*   Fixed-price home repairs\nThere are also several potential benefits to using a personal loan over other types of financing when you need to borrow money. These include:\n*   Lower interest rates\n*   No collateral necessary\n*   Fixed rates and payments\nAgain, as with any type of financing, the condition of your credit will impact the rates and terms you're offered on a personal loan. This is just one more example of how having good credit can pay off. END