Answer:
From a planned expense (like remodeling your home or planning a wedding) to the unexpected (like medical emergencies or repairing your car after an accident), a personal loan can be used for almost anything. In addition to paying for large expenses, Personal Loans are often used to consolidate debt at a lower interest rates. This is known as refinancing and is particularly useful to those trying to pay off credit card debt, as credit cards often have higher interest rates than personal loans.