When applying for a personal loan, it's best to be scrupulously honest. A poor credit history doesn't necessarily mean you can't get a loan, but it's likely that a loan officer will turn you down immediately if they found out you've lied on your application.

If you've got problems in your credit history, don't give up on getting a personal loan. There are companies out there that specialize in risky clients. The interest rates may be higher, but they'll come down after a few years of on-time payments.

If you can, avoid unsecured personal loans, because the interest rates can be painfully high. Instead, try to put up something as security for your loan in order to bring the rate down. If you own a home, the simplest option is to use your home equity as collateral.