Example: Susan M. from Calgary, Alberta is a 23 year old assistant manager at a small sporting goods store. As a full time worker and part time University student, Susan has been less than frugal with her money spending ways. Lately she has decided to try and get her finances in order, along with her outstanding bills. To do this though, Susan wants to take out a personal loan from a private money lending agency in Calgary. The reason she is going that route rather than through her bank, is because Susan has a bad credit rating and would not be eligible for a personal loan from a regular money lending institution. But first, Susan is going to figure out exactly how much she needs to the penny so that she won’t be going overboard paying larger interest rates than she has to. The more knowledgeable Susan is about her borrowing needs, the less she’ll end up paying. One other thing she could do to have peace of mind is to ask for a copy of her credit report, which is usually free if mailed to you. With that information, she can see for sure how bad her credit really is so that she can begin work on getting up to a good score. But for now, she’s doing what she can to correct her current financial state.