There are four types of unsecured loan types that people typically take out to cover projects, emergencies, or shortfalls in their financial needs. These are a personal loan or signature loan, personal line of credit otherwise known as a PLOC, a credit card cash advance, and a Payday loan. We will be reviewing each type along with the pros and cons of each. Now not all unsecured loans are created equal, so you have to be especially careful to ensure that if you are utilizing an unsecured loan that makes sense for you.