If you have received one loan and feel that you are in control of your finances, we do not recommend taking out additional loans. Regardless of your financial circumstances, it is always best practice to repay one loan before taking out another one. If you are struggling to cover everyday living expenses and are considering taking out another loan, it is recommended to contact a professional credit counselor who may be able to offer practical, money managing solutions, as taking out another loan may result in further financial difficulty.