Loans and borrowing money is part of every day life. There are many things to consider when you take out a loan to that you ensure you borrow sensibly and don’t get yourself into more debt. Ensure you spend plenty of time undertaking research before you make your loan application. This is not only to get a good understanding of what is on the market, but importantly, every time you make a loan application your credit history is checked which could have an adverse effect on your credit rating. Use comparison sites to check the loan companies APR, repayment terms and eligibility criteria. Ensure you are fully aware of the costs and check for any penalty charges. Remember that these could be in the small print so be careful to read all the terms and conditions thoroughly.