You are able to implement multiple installment loans as no legislation prohibits you from doing that. Your own eligibility, in this kind of case, will count on situations the lender deems essential. If you meet up with all of the criteria, they can approve your request. However, remember that defaulting on a good installment loan could lead to penalties, like obtaining an awful credit rating. Anybody doesn’t want this to happen since it might lower the likelihood of getting a credit later on.