Installment loans is a type of loan that is advanced to the borrower with the lender requiring the borrower to pay the loan in scheduled repayments maybe in weeks or months depending on the lender. The loans are actually available to people with less than stellar credit history. In case you default the loan, the conventional lender will convert the asset to money and repay the loan. Many Americans are facing tough financial times. This has affected many and their credit scores have lowered considerably. It is essential to note that credit score is a measure of borrower’s credit worthiness or ability to repay a loan. Installment loans for bad credit are a solution for people with lower credit scores. If you need cash to deal with an emergency, you will have to apply for installment loans for bad credit.
You are supposed to meet the following criteria in order to qualify for a loan. These include
- You are not an active military personnel
- You have an active checking account
- You have a recurrent income or proof of employment.
- You are at least 18 years old and have a valid national identity card
Why choose installment loans for bad credit?
You cannot budget for financial emergencies as they usually appear unexpected. If you do not have a fully funded emergency account, you will fall into financial turmoil. Many people are depressed and they lose hope when faced with these tough conditions. However, you should not worry because we will help you get funding from reputable lenders in our network. Whether you want to pay for an emergency medical bill or need to make renovations, an installment loan is the right choice for you. The features of installment loans for bad credit include
- You have the freedom to find a permanent financial solution without breaking your bank account balance.
- The loan terms are tied to your income and you will be in a position to repay the loan while maintaining your regular lifestyle. You can allow your lender to deduct the amount from your bank or make the payment yourself to the bank.
- The loan comes with fixed interest rates and the installments are spread across a period. This means that you will know what you are supposed to pay and they will not fluctuate to unexpected rates like other types of credit.
What to look for in a lender
This is the most crucial aspect because you would want to deal with a person who is experienced in this field and will know how to handle different situations. The process should be seamless to allow the borrower to access the loan facility quickly and with ease. We have made our loan request process simple and you can apply for the loan in the comfort of your living room as long as you have an internet connection. You can complete the loan request form quickly and we will match you with lenders who will fund your loan. We have many lenders in our network and as long as you meet the criteria, you will get a loan.
This is the most integral part for any customer or borrower. When you give us your information, we will not pass it to unauthorized parties. We have state-of-the-art data encryption software and programs which ensure that your information is safe and secure. We will never pass your information to a third party without your permission.
If you are in need of an emergency loan and do not have a financial backup, installment loans for bad credit will likely be the answer to this problem. Once you have submitted your information, we will connect you to lenders within a short period and you will be given feedback. Your lender will make you an offer based on your ability to repay the loan and the information that you have supplied at the time of application. You should go through the frequently asked questions to get a sense of how we operate and how you can make the application. If you have more questions, we are more than willing to answer the question. Call us or send us an email.
Bad credit is not a problem
We believe in giving borrowers an avenue to get financial solutions whenever they have problem. Every citizen is entitled to get the right credit facilities and that is lenders in our network are working round-the-clock to ensure that you get the right loan. We cannot promise that we don’t check your credit. What is mostly done is a soft credit check that is meant to check the validity of the information that you have provided. However, less than stellar credit history does not mean that you will not get a loan. As long as you meet the criteria that your lender requires, then you will get a loan. One important aspect when applying for the loan is your income status. This is an indication on how much you can afford.
- In essence, the amount borrowed should not exceed more than 25% of your gross income. This is to allow the borrower to have breathing space and meet other financial obligations apart from repaying the loan.
- You should read the payday lending and other legal requirements in your state to know if there are interest caps or limits.
- The loan request process is simple and with many lenders in our network, we believe that you will get a loan of your choice if you meet the criteria. The process is usually done online. We understand the dynamics involved in financial emergency and we are here to aid alleviate your problem. Your lender does not require you to have collateral, and once you have proven to have ability to repay the loan, you will qualify for one.
- The last thing you want when you are looking for a loan is to land in a vicious debt cycle. We promote responsible lending and when you are borrowing money, it should not be used as a long-term financial solution. However, you can use it to deal with emergencies. Moreover, we do not charge any money during the application process. Once you have accessed our website, you can make the loan request without paying a cent. We put everything open for the client to review and make a sound decision. There are no hidden fees and catches. Contact us today for more information.