Question 1

What is an online installment loan?

Accepted Answer

An installment loan is a  loan in which a customer is lent an amount of cash in one go. The loan is is then paid off in monthly installments.nnThe monthly installments are set out in advance for say 6 to 12 months. These loans are advantageous as the APR are set during that time instead of having a variable interest rate like you would have on credit cards that can vary depending on your situation.nnThis allows you to anticipate your monthly payment each month and avoid the variable rates that a credit card plan could present you with.

Question 2

Can there be more than one monthly payment?

Accepted Answer

They require one or a number of regular payments every month depending on your  loan agreement. The term for the loan as well as the rate is agreed between you (the borrower) and the financial lender in advance.nnOur lenders can get you cash into your checking account as soon as the same business day.

Question 3

What are some features of installment loans?

Accepted Answer

1. Reliable Interest Rates Means Monthly Paymentn2. Longer duration Means Lower Monthly Paymentn3. Quick Approval – the next business dayn4. Simple application processn5. Larger loan amounts on offer than payday loansn6. Money possibly the same day

Question 4

How much can I get?

Accepted Answer

We can offer loans of up to $5000 that can be fixed in advance for a period of time that suits you.

Question 5

What are the repayment requirements?

Accepted Answer

It is usually monthly but can also extend into years. The time depends on how much you borrow and your ability to repay.

Question 6

What type of online installment loans are there?

Accepted Answer

A few types of installment loans are: mortgages, auto loans, car title loans & personal loans.  All these loans have monthly payments and are paid out in one sum at the beginning of the loan term.

Question 7

Do bad credit installment loans exist?

Accepted Answer

Borrowers with all kinds of credit can apply for and get approval for monthly loans. It is better to pay back over a longer period of time when you have limited funds on your credit card.

Question 8

How can I get a loan with bad credit?

Accepted Answer

1. Look online for the top credit bureaus in Google and compare interest ratesn2. Check the business loan ratesn3. Study how they assess bad credit and perform personal credit scoresn4. Look at all the options on how much you have to pay back monthlynnInstallment loans are unsecured bad credit loans with a relatively small sum with high-interest rates. They are some of the most popular options for personal loans you can find with monthly payments

Question 9

Do Installment Loans Have No Credit Checks?

Accepted Answer

Lenders only do a soft credit check on you. This is a basic check on your details and not as rigorous as a banks hard credit check.nnNo credit check is not really honest and it advertised by many websites online. There is always some form of analysis no matter how small before a loan is distributed.

Question 10

What are the advantages?

Accepted Answer

The lenders  will not do a hard credit check on younnMost loans are approved as long as you provide personal employment and financial bank detailsnnConditions for bad credit loans are superior to personal payday loans or even some bank loans.nnPaying back your loan monthly installments can actually increase your personal FICO credit score. By paying back regularly these financial payments will contribute to increasing your good credit.nnOnline payments give you personal reminders monthly helping you pay on time and thus improving personal credit scores.

Question 11

What are the cons?

Accepted Answer

The APR interest rate and the loan terms and conditions can be highnnPayment fees and rollover charges can be affordable and this is build into their business model

Question 12

What is the interest rate ?

Accepted Answer

Our lenders charge higher interest and APR to cover their financial risk, but the upside is you get the loan you need to pay back monthly. The bank rate is 6 to 36 percent, whereas shorter term loans can be 150-400%.nnLending companies not only provide borrowers with much lower interest rates on their loans compared to other types of loans, their clients also build credit if their credit history is bad or if they don’t have a credit history at all. Bad credit also improves.

Question 13

Can installment loans improve my credit score?

Accepted Answer

If your payments are on time they can really help you with rebuilding your personal credit score. The lenders will see that you have paid back on time which will lift your credit rating.

Question 14

What do I need for an application?

Accepted Answer

You need to demonstrate that you are at least 18 years old. You also need a working email, a phone number, a checking bank account, a credit card and proof of income (or proof of employment).

Question 15

Can I get Guaranteed loans?

Accepted Answer

You maybe be searching for a guaranteed installment loan for bad credit and hoping such a loan exists. The reality is that credit bureaus are still going to try and weed out bad actors.nnBy having defaulted on a loan previously, this does not help. Providing you meet the minimum requirements, you are in with a good chance of getting a loan.

Question 16

Are the loans from direct lenders?

Accepted Answer

With unsecured loans you get your money from a directlender or a broker. You may think the direct lender is cheaper but be aware that that is not always the case.nnYou should check a number of lenders to compare loan rates and fees before deciding where to get a loan.

Question 17

Can I get a loan the same day?

Accepted Answer

Installment loans can be approved within a few hours or the next business day or they can take a couple of business days.

Question 18

Are payday loans different?

Accepted Answer

Online payday loans should be settled at your next payday.  Long term installment Loans can last years if you take out a mortgage. Many people are looking for a personal loan for several months.nnPayday loans are short-term products and should be repaid quickly.nnMonthly payments mean you are able to plan in advance for your financial repayments (depending on the rates on offer).

Category Archives: Installment Loans

Installment Loans Online For Bad Credit | Guaranteed Cash Decision Fast

Direct lender installment loans only for bad credit only

No Credit Check Loans Online| Personal Installment Loans Up To $5500

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