The good news is that people with various financial situations and credit scores can benefit of the great advantages of an unsecured personal loan.  It is true that in case you are considered to be a high risk person, you have to pay a higher interest rate and you will get a lower amount.  This is the direct result of your bad credit history.  Read carefully all the terms and the conditions in order to be sure you can afford to pay such a high interest rate.  An Unsecured Personal Loan can destroy your credit history if you do not repay it on time.