<p>Did you know a personal loan is unsecured meaning that it does not require the borrower to put up a form of security as a guarantee for the lender. The lender bases a decision on whether the borrower will be able to repay the loan. Personal loans are available from a wide range of lenders, applicants are not restricted to the traditional High Street banks. </p> <p>So how do personal loans work, should you apply for a personal loan, what are the downsides? These are all questions that we look into and more from the Payday Loans Ebook. This is a perfect guide for those looking to take out their first personal loan or for someone that may need more information on the subject of personal loans. </p> <p>This Ebook also lets you know how much you could get for a personal loan and what the rules are from the Financial Conduct Authority (FCA) and what the pay back scales are and how these work. </p> <p>In any money borrowing circumstance make sure you understand the rules and the implications this may have on you and your credit rating. </p>