Personal loans can be incredibly useful, helping you with everything from a bathroom renovation to an emergency car repair. They can give you quick access to an unsecured lump sum of cash, which you repay in monthly installments over several years. With how convenient personal loans are, it's no surprise that they're increasingly popular. According to TransUnion, Americans owed $253 billion in outstanding personal loans as of the end of 2024, up 42% from 2022. But as borrowing has surged, so has fraud. Co ...