Home Blog What Are Personal Loans? How Can They Help Pay Your Bills?
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Family considers an online personal loan when looking at their monthly bills

What Is a Personal Loan?

Everyone needs options sometimes when it comes to paying their bills. Maybe you are waiting on a paycheck from your job, or maybe the bills this month were higher than you budgeted for or expected.

That's where a personal loan comes in as a perfect option to get you through this tough time.

What are personal loans? A personal loan is a shorter-term loan a lender like Atlas Credit can provide borrowers throughout Texas and Oklahoma. These loans can help you make ends meet or otherwise fit your specific financial needs. The flexibility of the loan is usually up to you as the borrower: whether you want $100 or more than $1,000 to be paid back anywhere from five months to 12 months at a rate you can easily afford.

Whether you are an individual looking for a personal loan or a family in need, Atlas Credit offers quick and easy personal loans online regardless of your credit history. If you have good credit, bad credit, or no credit at all, you can qualify for a personal loan with ease.

What Is a Consumer Loan?

Creditors provide consumer loans to finance specific things. They can be put toward buying a car, a home, education and more. Personal loans also fall under this category. Some consumer loans are secured, which means the borrower puts up collateral, while others are unsecured. Collateral is something that can be used to pay off a debt if the borrower defaults.

You may also hear personal loans referred to as signature loans. The term refers to an unsecured personal loan.

How Do Personal Loans Work?

When you get a personal loan, you receive money that you can use for any purpose. You borrow the money for a limited term. Atlas Credit offers personal loans that borrowers repay during a period of five to 12 months.

The amount you borrow depends on your needs. Atlas Credit provides loans ranging from $100 to $1,400. We tell our customers only to borrow the amount they need. While it may seem tempting to get as much money as possible, you are responsible for paying this money back, and you don't want to owe more than is necessary.

The general process for applying for and receiving a loan includes:

  • Filling out an application
  • Obtaining approval for the loan
  • Determining the conditions for the loan
  • Signing for the loan
  • Getting your cash

You get your money all at once, and you can use it for whatever purpose you like. When you use Atlas Credit for your loan, you can receive approval in just a few hours in many cases. When you need cash fast and you want a reasonable interest rate, personal loans are the smart choice.

How a Personal Loan From Atlas Credit Differs From a Payday Loan

If you're looking for fast cash, you've surely come across the idea of a payday loan. You may have gotten suggestions from friends or family that a payday loan could be your best option to pay a bill or afford a purchase.

Payday loans, unfortunately, can be somewhat difficult to repay. The reason for the name payday is that you very often have to pay the loan back within a few weeks, or on your next payday. When this loan repayment is due, it is often a much higher amount than you borrowed and can come as a shock to your finances.

A personal loan is far simpler to repay because you have many options available to repay the loan on your terms. Atlas Credit is not a payday lender -- instead, we offer helpful and affordable personal loans to help you pay your bills ASAP.

How to Get a Personal Loan

The first thing you do to secure a personal loan is fill out an application. Check if you can do it from home. For example, we offer an online option that takes just a few minutes to fill out. You can also come into one of our locations across Texas and Oklahoma to fill out an application in person. You should receive your approval quickly, which is another advantage of getting a personal loan.

Many people wonder if they need good credit to get a personal loan. Bad credit could deter them from applying for a loan if they have been turned down by other financial institutions or credit card companies. Atlas Credit will provide loans to people with bad credit, and you can actually rebuild your credit by making consistent, on-time payments on your loan. We look for steady employment in promising candidates for loans.

What can you use your personal loan to finance? Many of our customers pay off bills, including debt from unexpected emergencies like dental surgery or car repairs. But some people want to use loans to pay for something fun, such as holiday gifts. Or they may put it toward a dream vacation. We think the best way to use your cash is any way you want to do it. Only you know your budget well enough to decide.

Need Help With Bills?

Take a look at your bank account, your wallet, and the bills you have to pay soon. Can you manage to afford everything?

If you are uncertain about your immediate financial future but want the peace of mind of knowing you can pay your bills, afford food, supplies, and everything else you need, there is a lifeline.

Personal loans can be a fantastic option for purchasing an item you need or paying a bill you would otherwise have trouble paying. Where a payday loan might require you to repay the entirety of the loan as soon as you are able, potentially leaving you broke again the next time you need to pay a bill, a personal loan is far easier to pay off.

The decision is easy. Stop by your nearest Atlas Credit location in Longview or Houston, Texas or apply online for a quick and easy personal loan to pay your bills today!

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