Personal loans can be applied for in person, via written application, over the phone or via the Internet.

When you apply, always fill in the form truthfully. If you have any adverse credit history, make sure you inform the lender.

Once you have submitted your application, assuming that you meet their criteria as a borrower, they will instigate a credit check against you. If they subsequently discover credit problems you have not declared you will probably be turned down and this may count against you in future credit checks.

If you are intending to buy a car with the loaned money, inform the lender as some lenders offer lower rates to car buyers, or you may be able to extend the repayment period more easily.

Some of the questions you will be asked on the loan application include:

• your name and address details
• your employment details
• your bank details
• your current outgoings
• whether you are a home owner
• details of any adverse credit
• the amount to be borrowed
• the period of the loan
• the intended purpose of the loan