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Person looking through documents hoping they can use a loan to pay their bills

Loans for Bills: 3 Reasons Why Americans Borrowed Money in 2022

Bills are a natural part of life, and when trouble hits, it may impact your ability to pay. If you're struggling to handle your bills, it might be time to consider a personal loan or installment loan to cover your expenses.

Personal and installment loans are good options to help you cover a sudden expense like a medical bill, an expensive car repair, or a business travel emergency. SimpleFastLoans has a simple verification process and quick loan decisions to set you back on the right path.

There are a lot of stressful situations that prompt the need for a loan to cover bills. Thankfully, there are different types of loans you can rely on for these situations to keep your head above water.

When Do You Need a Loan?

Before diving into the different types of emergency loans you can take advantage of, it's worth looking at when it's prudent to get a loan. It would be best to rely only on these tools when you have no other option. Situations like the following are good reasons to look into a personal or installment loan:

It's important to note that you should always plan how you will repay the loan, regardless of why you need one. Sticking to the repayment schedule will make your job much easier to manage when you understand your obligations.

Medical Emergencies

A medical emergency is the first situation in which you might consider a personal loan, and for good reason. It's not like anyone is expecting to get sick suddenly and need to go to the ER. However, when you or your loved one's health is impaired, you must get the treatment you need, regardless of cost.

Those expenses, however, can rack up, which prompts the need for a loan to cover those bills. In addition, medical billing departments are a mess; these bills can stick with you for months, even years, if you don't pay up. The last thing you want is for the billing department to hand over your debt to a collection agency.

person receiving medical attention in an ambulance

Major Home or Car Repairs

Your home and car are likely your two most valuable assets; if they are compromised, you should get them fixed as soon as possible. As any repair technician will tell you, it's a lot easier to deal with a problem when it arises than waiting to cause further damage to your assets.

Some repairs that might require a personal loan include a transmission replacement, engine repair, or any structural damage to your home that makes it an unsafe environment for you. Fixing these problems sooner rather than later can be impossible if you don't have the money on hand, which is where you can rely on a loan to help you out of a jam.

mechanic working on a car

Important Business Travels

There are times in your career when you'll need to travel to meet with clients or interview for a new position. While these times are certainly exciting, they also tend to incur a lot of expenses— traveling is not cheap, and if you don't have the money to cover it, you could be left unable to pursue your business goals.

You can rely on a loan to help cover travel expenses so that you can follow up on your business ventures without worrying.

person on the train travelling for business reasons

What Loan Types Are Available?

SimpleFastLoans offers several different loan types that you can choose from to find one that suits your needs. They offer the following loans:

  • Installment Loans
  • Lines of Credit
  • Personal Loans

Installment Loans

Installment loans are a way to get you the cash you need quickly. The last thing you want when hunting for a loan is to get bogged down in a complicated application process.

SimpleFastLoans takes the hassle out of applying with their quick online loan decision process, which can accelerate you through the process to get the fast cash you need sooner rather than later. Some of the benefits of an installment loan include the following:

  • Loans from $200 to $3000
  • Flexible repayment periods
  • A quick and easy application process
  • Instant loan decisions

To apply for an installment loan, you'll need to meet the following criteria:

  • Have a valid government-issued photo ID
  • You must have an active checking account with most of your income deposited
  • Must have a valid, reachable phone number
  • Must have a valid Social Security Number
  • Must be at least 18 years of age
  • Must not be a member of the military

SimpleFastLoans is committed to keeping your information safe, and you can look over all of the terms and fees before you sign the documents for an installment loan.

Lines of Credit

SimpleFastLoans offers lines of credit in Tennessee only, ranging from $200 to $1500. So if you need extra cash to tide you over in an emergency or make an important major purchase, then their Line of Credit option might be right for you.

A line of credit gives you access to money anytime you need it, enabling you to draw money up to a certain amount for a set period of time.

You will pay interest only when you borrow on that line of credit and choose to continue borrowing on the line of credit so long as you meet your minimum payments.

It's much like a credit card or a flex loan in that you influence how the line of credit is established and used.

You can borrow as needed up to the credit limit and don't have to borrow the total amount you've qualified for. Some of the benefits include the following:

  • Drawing funds up to your credit limit
  • Better flexibility with cash advances
  • A simple and easy application process

Personal Loans

Emergencies are bound to happen, and when they do, you can be ready with a personal loan offered by SimpleFastLoans. A personal loan is issued by financial institutions and paid off in installments for a while.

It's a good option because it gives you access to a fixed amount of money with your repayment terms already laid out. So, there's no question about how much you have to pay back; you'll know immediately what's expected of you.

With that in mind, you can use personal loans to cover the costs of medical bills and essential repairs or cover the cost of a big critical purchase you need to make.

With the fixed borrowing amount and simple repayment schedule, you never have to stress about how you will handle those fees.

As always, there's no hassle when applying through their website, and all the verification is done in minutes, giving you access to your loan decision almost immediately. Some of the benefits include:

  • No collateral
  • A quick application process
  • Instant loan decisions
  • Loan amounts from $200 to $3000

A personal loan can be used for just about anything, but you should only use it if needed. The best thing about using a personal loan through SimpleFastLoans is that you never have to wait for a decision. Instead, you'll know immediately whether you qualify, so you can get the fast cash you need for emergencies.

Getting Started with SimpleFastLoans

The application process through SimpleFastLoans is simple and fast (hence the name). You can start your online application today if you have your basic information! You'll generally need the following to apply for any of the three loans offered by SimpleFastLoans:

  • Proof of ID
  • Income statements
  • Social Security Number

You will need to be at least 18 years of age to qualify for an installment loan, but once you've filled everything out, you'll get a loan decision immediately.

The fees, terms, and repayment schedules are laid out for you to review. You never have to worry about hidden fees, and SimpleFastLoans will never use or sell your personal information on other websites.

If you ever have any questions about your loans, repayment, or anything else, then feel free to contact SimpleFastLoans for support, and their staff will be more than willing to help you with anything you need.

Starting today is as simple as filling out the online application form, and once you sign your loan agreement, you'll be able to get the money you need as soon as the same day or the next business day.

Apply Online Today!

Life can hit you hard sometimes, and if you're struggling to keep your head above water, then SimpleFastLoans has the resources you need to pay off large bills quickly.

Their straightforward application process, instant loan decisions, and fast cash-out times make them a reliable resource whenever you need loans to cover bills.

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