Five Reasons to Take Out an Installment Loan

Whether you have encountered an unexpected financial situation or are planning to surprise your partner with the vacation of a lifetime, an installment loan can help you to get through an expensive period of your life. You can then repay the money borrowed, plus interest, in equal monthly installments in a time frame that suits you. Here are five reasons to take out an installment loan.

Paying a Large, Unexpected Bill

Large, unexpected bills, such as medical expenses or car repair bills, can be difficult to pay in one go. If you need to pay a bill that would take you over the credit limit on your credit card, an installment loan could be the answer. After being accepted for the loan, you would receive the money in your checking account, making it easy to pay the bill in full on its due date.

Consolidating Debts

If you have debts from several different sources, such as credit cards, store cards and car loans, it may be a good idea to consolidate them into one installment loan, especially if you are behind with some of the payments. Once your loan application has been accepted, you can breathe a sigh of relief as you pay off all of your debts in one go. All you need to do now is to make a single loan repayment each month.

Covering Educational Expenses

If you are a student, or about to become one, there are many expenses that you will have to cover, including tuition fees, purchasing a laptop and buying books. If you only work part-time, it can be difficult to cover all of these expenses, especially if you have to pay a lot of bills at the same time. An installment loan could fund your annual study-related expenses and you could pay it back over one or more years.

Improving Your Home

Repairs, renovations and improvements to your home are all expensive but they may be necessary. In addition, you may have to pay builders and contractors in advance. An installment loan can provide you with the cash you need to finance all your home improvements. You will then be able to repay the money over a period of time that suits you.

Planning the Vacation of a Lifetime

Whether you are planning your honeymoon or approaching your silver wedding anniversary, an installment loan could help you fund the vacation of a lifetime. Once your application has been accepted, you will be able to book the vacation without having to worry about exceeding your credit card limits. After enjoying your dream vacation, you will only have a regular monthly amount to pay for the duration of the loan.

Installment loans are suitable for a variety of purposes. Whether you have an unexpectedly large bill to pay or need some money in advance, an installment loan can give you quick access to the funds you need. You can then relax, knowing that you will be able to repay the money plus interest in easy-to-manage monthly installments over a period of time that suits you.

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41 Comments

  • JANE MCDONOUGH says:

    I WOULD LIKE TO GET A LOAN SO I CAN STOP DOING PAY DAY LOANS AND GET CAUGHT UP ON OUR BILLS
    AND PUT A SIDE SOME MONEY FOR A SAVINGS THEN WE WOULD BE ABLE TO LIVE WITHIN OUR MEANS. A LOAN FOR $3000.00 WOULD BE AFFORDABLE IF ALL OUR BILLS WERE CAUGHT UP AND WE JUST HAD ONE LOAN TO PAY.

  • charles alvarado says:

    looking to climb out of debt by consolidating into one monthly bill instead of several until i get back on my feet

  • Larry Winters says:

    Need to pay off some existing debt from payday loans and pay off some existing debt

  • Vable Welch says:

    I would like to get an installment loan to pay of some small bills, and then I can see my way clear. I will then have only one loan bill to pay.

  • nada hallac says:

    i would like to get large loan to pay my bills i hate getting a pay day loans they just dont help me at all

  • Michael J. Regano says:

    I would like to get caugt up on my bills and this would be ideal
    $2500 would help me very much…hope this works

    • shirley says:

      I am in the process ofsecuring a loan with lendingclub.com. if you have not already gotten a loan try them. Reasonable rates. Small fee that comes out of your loan amount.

  • keshia says:

    behind on some bills. installment loan would catch me up and put me back on track

  • richard lucia says:

    interested in a personal loan for family medical expenses which can be paid back over 24 months

  • Shelly Moore says:

    I would like to get an installment loan to pay bills. Get back on track we’re I can manage my bills..plus save some money on the side.. I have bad credit.. So due to I can’t keep up with my bills.. I only need around 3000.. To get back on track

  • Joyce Price says:

    I am looking to obtain an installment loan. My credit rating is poor but I am willing and could pay this loan back within one year.

  • Vince Kowalski says:

    I need money to pay bills I accumulated while I was in the hosp with an anuerysm. I have a poor credit rating and some extra money would go a long way to get back on track.

  • R. Zamora says:

    how do I apply for a loan. thank you

  • manny aldana says:

    I would like to get an installment loan to help with moving expenses. A loan of 3000 dollars would be enough to cover all my expenses and put me one month ahead.

  • David C. Wall says:

    I would like to borrow money for my upcoming wedding!

  • Cynthia says:

    I can’t get caught up. I did one e.signature that I approved but ended up with 2 loans. By the time I found out I couldn’t dispute it. Payday loans aren’t for me! I need an installment loan to get caught up.

  • Juan I Alcantar says:

    I would like to get an installment loan so I can pay off some bills and just have 1 instead of several bills

  • Nancy says:

    I am a single parent with 2 daughters in college. I also have had a substantial amount of car repairs in the last few months. I would like to get a loan to not only help my daughters with expenses, but also pay off my car loan and repairs. I wouldn’t have to struggle every month to pay everything if I had just one place and one interest rate to repay.

  • Kenny Bailey says:

    I would like information on installment loan

  • Natalie Porter says:

    I am seeking a little help to pay off small loans and have one payment. I am doing my best to stay on top of expenses.
    I am requesting a loan for $2000.00. At first I thought that a payday loan was the right thing, but now I know that I really need an installment loan.

    thanks

  • mark fortson says:

    hi i need too get a installment loan so that i can pay off all my bills and be done with it and have one payment i got behind because i was out of work for 6 months and then 4 months again in the same year thats why i’m so far behind on everything a payday loan put me behind even further in dept so I needed a way to consolidate all of these debts and have just one payment. i’d recommend an installment loan to anyone who has had a bit of bad luck, it help me get back on track.

  • Judith Baker says:

    My son has a new job whose requirements are glasses and work boots. I was recently hospitalized and money is not available. A loan of $2000 would make life so much easier.

  • Mary Dye says:

    What would payment be on 15,000.00. I lost husband in auto accident. My life has been soooo complicated since . I want to pay some past due accts. and try to get life again. I will have access to ssome extra money this next year. Then I could pay it off. I’m so apprehensive of doing things on line.
    Not very many places for people in need to get help. I was scammed recently hese days life seems to only be for the rich.

  • sjon simms says:

    Need to put all that I owe into one bill so I can figure my finances.

  • Janet Tabor says:

    I just need to be able to pay off my past due electric bill so they don’t shut it off.

  • Judy Gibson says:

    If I appleyed for a loan for 600.00 hundred dollars what will my payments be ??????

  • henry l parker says:

    i would like an instalment loan to pay an immediate debt.

  • Nannette Martin says:

    I would like a loan to get out of debt and I would not continue to get payday loans. I could get a installment loan for $8500 for 3.5 years at $200 a month. With this loan I could consolidate my bills……3 large and catch up on others.

  • David Smith says:

    Need loan to catch up on bills such as utilities etc. Financial set back put me behind on some items.

  • Robert H.L. Jackson says:

    I have several small bills that I pay on monthly, and would like to get an installment loan for about 18 to 24 months that I could payoff the small bills, and have one loan.

    I am a Disabled Veteran from the Viet Nam time, and have an income of $5030.00 per month. Medical issues in the past has caused my credit so damage, and would like the installment loan to report to the credit reporting to help improve my credit score.

    Thank You

  • MARYANN THOMAS says:

    I WAS ON SSI FOR THE LAST 16 YEARS BUT NOW IM ON SOCIAL SECURITY AND I NEED A LOAN REALLY BAD RIGHT NOW, THANK YOU AND GOD BLESS. BUT I DO NOT WANT A PAYDAY LOAN.

  • MARYANN THOMAS says:

    I DO NOT WANT A PAYDAY LOAN I NEED AN INSTALLMENT LOAN, TO CATCH UP ON SOME BILLS.

  • Nannette Martin says:

    I HAVE BEEN TRYING TO ACCOMPLISH AN INSTALLMENT LOAN FOR THE AMOUNT OF $3000 TO CLEAR UP SOME OF MY BILLS. PAYDAY LOANS ARE NOT WORKING FOR ME. AN PAYMENT OF OF AN INSTALLMENT LOAN ALONG WITH MY MONTHLY BILLS WOULD BE AFFORDABLE FOR ME. “I HATE TO SOUND LIKE I’M BEING PUSHY, I’M NOT IT’S JUST THE SITUATION IS VERY IMPORTANT.” THANK YOU

  • april long says:

    Would like to get least 2500 or 3000 to pay of aft a few debts. And get the bills on tract and only pay only one person back. Getting loans here and there puts u in debt.

  • mike okelly says:

    i need to borrow 1,500 for 6 months

  • Steven C. says:

    I have $5200. in credit cards(10). And $1800. in a pay day loan. = $600-$700 in monthly payments.
    There has got to be an easier way. Please help if you can.

  • CHARLES E HAWKINS says:

    I COULD USE A $2500 USD INSTALLMENT LOAN AT THIS TIME FOR MEDICAL PURPOSES.

  • NANCY SMITH says:

    I need 1500.00 to pay off payday loan and some back taxes on my mobil home.my credit is bad…its hard for me lost my husband back in march 2014..he was sick for yrs and it was just hard paying bills..i have been trying but its hard.

  • Colette says:

    I am interested in finding a reputable installment loan for 3000 to deal with a family emergency. Not interested in being passed around from company. Can you help me? Thanks