There are times when a personal loan online can help you manage a difficult situation. But what if you have bad credit?

Don’t let your credit history stop you from exploring the possibility of a brighter, less financially burdened future.

Read on to learn more about times when personal loans for people with bad credit can be a good idea. And how a personal loan can improve your quality of life.

Paying Off Credit Cards

In 2016, the average credit card debt per American household was nearly $9,000. If you can only manage small payments every month, that’s going to take years to pay off. And most of your hard-earned dollars will have gone to interest by the time the debt is paid off.

People who carry a balance on their credit card usually face one of two problems.

Either the minimum payment puts too much pressure on their monthly budget. Or, they can’t afford to increase how much they pay each month.

To solve the first kind of problem, the person needs to explore ways to lower credit card payments.

A personal loan can help solve the second kind of problem because the interest rate is usually lower than on credit card debt.

In either case, personal loans no credit check for people with bad credit can offer a chance to catch your breath. You can relax a little more.

Paying off credit cards will stop any calls from the collection department. It can help you feel in control of your finances. It can give you a sense of relief and strength to stick to a budget so you don’t build up the debt again.

Everyone’s situation is different but no longer carrying a credit card balance might be all it takes to get your credit rating back in shape.

Debt Consolidation

It’s common for people to have different kinds of debt. Along with carrying a balance your credit card, you might owe friends or family members, have a car loan, or payday loan.

If this situation sounds familiar, you know that it can be a pain to manage all those different payments. And with different interest rates and repayment expectations, it can be difficult to know which debt to pay down more aggressively when you have extra cash.

And let’s not talk about the strained relationships that can develop if you don’t pay loved ones as agreed. That can complicate your life like no other debt.

The greatest benefit of personal installment loans for people with bad credit is simplicity.

One interest rate. One monthly payment.

That kind of simplicity can make it easier to sleep at night. You feel like you’re getting ahead of the game, instead of always playing catch up.

Consolidating your debts can also help your credit rating, making your life easier in the future.

With the personal loan, you pay off all your other debts. Of course, payday loans online from friends and family don’t show on your credit report. But everything else does. Every bank, credit card company, or other financial institution that lends you money reports your repayment track record with them.

Each time you pay off a debt, you’re repairing your credit history. It can take as little as one year of no late or insufficient payments to improve your credit score.


Sometimes, self-improvement can lead to better career opportunities. It can help you break bad habits that hurt your health, wallet, and relationships. It can make life a little more enjoyable. It can make you even more resilient than you are today.

But sometimes you need a little help to make changes in your life.

If you’re thinking about going back to school, a student loan could help you achieve your goal. But funding for other self-improvement goals might require a personal loan.

In this kind of situation, bad credit personal loans guaranteed approval don’t have to be difficult to get. If you have a steady income and can demonstrate the ability to make the required payments every month, you can get the funds you need to get on the path to your best self.

Imagine what’s possible when you invest in you. Better skills. Greater opportunities. Higher salary. More confidence.

The people around you can also benefit. When your family, especially children, see you taking steps to live to your fullest potential, they can be inspired to do the same. Relationships can strengthen and become more rewarding for everyone.

Don’t let bad credit stand between today and better tomorrows.

Closing Thoughts About Personal Loans for People With Bad Credit

When you have bad credit and need a personal loan, it can feel like no one wants to help. Banks can be harsh judges of your ability to repay them.

At Bonsai, we’re here to help you improve your financial situation. We understand bad credit. We know that a bad credit history doesn’t mean you can’t have a bright financial future.

It can take time. There’s no one-size-fits-all approach. But we offer a variety of financial products so there’s a path forward for you.

Information to help you make the right decisions is at your fingertips 24/7. Requesting a personal loan or other financial product is easy.

We’re here to help you get your finances back on track, not make your life more difficult. Personal loans for people with bad credit is a core part of what we do.

So the question isn’t if we can help you. The question is are you ready to rid yourself of the stress of an uncertain financial future?

Discover how we can help you get a personal loan. Discover how you can take control of your financial future today. Here are some other articles that might help:

7 ways personal loans no credit check can help with medical bills and expenses
Debt consolidation loans for bad credit
The 4 top payday loan companies you can trust
How to get modified car insurance