As most military members and their families are aware, with the state of the current financial system and the state of the payment system for men and women who serve, meeting each month’s financial obligations can be tough. However, because of their dedication and their service, military members, both current and retired, can qualify for special personal loans up to $20,000.Using a Personal LoanPersonal loans, also called unsecured loans, can be used for many different ends. Unlike secured loans which rely on collateral, personal loans are given without regard to property and do not put borrower’s other holdings at risk. Personal loans are often taken for many reasons, but one of the best uses for personal loans is debt consolidation. For a military family juggling several bills including credit cards, consolidating all payments into one each month can help them both manage payments as well as work towards being debt-free.What to Expect: Loans up to $20,000Unlike traditional personal loans, military loans are designed only for men and women serving or who have served in the military (veterans). These loans are therefore easier to qualify for than those personal loans offered to civilians since they take military service, pay, and character into consideration as well as other factors such as credit.Military personal loans can be given in any amount up to $20,000 and are really the best option available for those who qualify. Generally, military loans are given through both military credit unions as well as private lenders. Knowing that there are options in terms of lenders can help military members to find the best loan deal possible.In addition, for those looking for a lower interest rate, military loans are also given as secured loans. This means borrowers who own a home or land can use the value of their property to secure their loan and, as a result, enjoy lower interest rates.Bad Credit Is OkayMilitary personal loans are by no means guaranteed. Though qualification for these loans is easier than for traditional loans, credit score, income, and other factors will still come into play when lenders look at applications. Therefore, military members with bad credit should consider the possibility of asking for a secured loan over an unsecured loan if this is possible. It is also advised that borrowers with bad credit err on the side of caution and ask for lower amounts of money. Military loans are available for up to $20,000, but those amounts tend to be reserved for those with the better credit scores and higher income. Also, including a spouse as a cosigner could be a good option. As long as one of the two borrowers is a military member, military loans are still an option.Making the Right ChoiceWhen it comes to any sort of borrowing, it is essential to take time and make the right choice. Military personal loans are offered for up to $20,000 and, for certain people, this is really a great deal. Bad credit and no credit will come into play, however, so borrowers that do not meet credit requirements should consider using a secured loan, asking for lower amounts of money, or getting a spouse with higher credit and income to cosign.