A personal loan comes in handy when faced with urgent or unexpected expenses. Some examples include annual tuition fees, car repair costs, or expenses related to a medical emergency. You might also need financing for a planned event such as a wedding or renovating your home.
In the case of individuals at risk of filing for bankruptcy, or those unable to afford regular everyday expenses, a personal loan could lighten the load. If you are struggling to pay off an existing debt you could apply for a personal loan to consolidate the debt into one, more affordable payment.