Multiple Personal Loans: High Cost, Credit Risk, EMI Stress. What to Do?

• Easy access to personal loans leads many to take multiple, weakening financial health.
• Multiple loans increase Debt-to-Income (DTI) ratio, signaling risk to lenders.
• Missed EMIs due to multiple loans severely damage credit scores, affecting future borrowing.
• High EMI burden from multiple loans causes significant financial and mental stress.
• Experts advise one loan at a time; credit cards with grace periods are an alternative, but beware of high interest.

Why It Matters: Multiple personal loans can severely damage finances and credit; manage debt wisely or explore alternatives.