The higher your credit score the more options you will have in obtaining a personal loan. Those with a credit score of over 700 will typically have few problems in securing a reasonable personal loan based on their cash assets and income to debt ratio.

If you find that your financial situation has changed, there are options to work with your lender. Some lenders may suspend the loan payments and add them on to the duration of the loan, while others may dramatically reduce the payments and restructure the loan.

If you have a current checking or savings account with a financial institute you may get a better rate or loan repayment option that going to a lender that you have no previous banking or money relationship with. Lenders look for low risk individuals when determining if you qualify for loans, so a good record of banking will help.