There are many unexpected life events that can trigger the need to take out multiple personal loans at once. Personal loans are often used to consolidate other debts or make large purchases. But when you already have one personal loan and find yourself in a situation where you need another, what should you do? How many personal loans can you have at once?
The short answer is that you can take out more than one personal loan simultaneously. But just because you can doesn’t mean you should, as it can seriously impact your credit score and overall financial health.
Can I take out two personal loans at the same time?