Installment Loans For Bad Credit | Online Installment Loans
Did I Hear There Really Are No Credit Checks?
So you will see lots of companies advertising installment loans no credit checks but this is slightly misleading. What the lender does is perform a weak sort of check based on your email and other criteria. It is not like the corporates like Experian who have every piece of data on everyone who ever took out a loan. We are not really sure the exact details, just that it is less stringent than the banks.
So now I know that what are Online Installment loans?
Online installment loans are similar to online payday loans or personal loans and you can even get loans the same day but you don’t have to pay them back in a lump sum. Instead, you pay back your installment loans over a certain number of months for the amount you borrowed plus interest.
Ideal for those with bad credit, you can get cash amounts in the thousands of dollars. They differ from payday loans which are short-term and meant to be repaid at month end.
Who is such an online installment loan for?
A lot of the time this type of installment loan works better for someone who is on a tight budget and cannot afford to pay back their entire loan out of one paycheck or they have a bad credit score.
Paydaynow.net is a great resource for these types of bad credit loans and can get the process started for you right away with a few clicks of a button! The installment loan process only takes a few minutes and you are on your way to getting cash even with poor credit.
Finding Installment Loans Online
If you are reading this then you have probably already done the hard part of locating where to get an online line. Paydaynow.net is here to help! Our process is simple and our qualifications are not hard to meet. Here’s a quick rundown of the criteria needed to be approved for our bad credit loans:
What requirements are needed for bad credit loans?
- Age – A qualified applicant for an installment loan must be 18 years or older.
- Employment – in order to be approved for a loan, you must be able to prove current employment. In most cases, this can be done with valid paystubs.
- Income – In order to ensure that the recipient of the cash will be able to pay the loan back, lenders typically look to make sure the applicant has a minimum monthly income of $1300.
- Bank Account – Because the loans are transferred electronically a qualified applicant must have a bank account capable of receiving direct deposit.
Installment loans are less strict on credit checks than the banks
As you can probably tell, these qualifications are much less strict than a typical short-term loan application from a bank. In most cases, if you meet the four qualifications above then you won’t have a problem being approved.
Are there Installment Loans for really for Bad Credit?
Again, as we explained above you can apply for and be approved for installment loans for bad credit even if you have poor credit or no credit, or even bankruptcy in your past. That is one of the biggest benefits people find with Installment loans. If you meet the criteria above and want to move forward in the process of obtaining a loan then please don’t hesitate: call our toll-free number or complete our simple online request form today at paydaynow.net!
The timeline for bad credit installment loans for
Here is a little information about how the process works:
- Application – The first step of the loan process is filling out the easy online request form right here at paydaynow.net. It is a short application that will ask you to fill in information that should be rather easy to access, like your name, age, address, bank account information and employment proof.
- Review – After you complete the application it will instantly be sent to a team of direct lenders who will review your information to see if you qualify.
- Approval – If the lender finds that you do qualify then they will approve your application.
- Signatures – Once your application is approved the lender will send you your loan documentation which will include all pertinent information about the terms of your loan. This paperwork is extremely important and should be reviewed to make sure you understand exactly how your particular loan will work. Make sure to look at the loan amount and repayment schedule to ensure that that will work for your budget.
- Funds – Once you return your signed loan paperwork you will receive your funds within just a couple of business days.
Bad Credit Installment loans are easy to get
The process is simple and easy. Paydaynow.net keeps it this way so that you can get the funds you need fast. Repayment terms are flexible and can be anywhere between 14 and 18 months. If you choose to pay your loan off earlier you will not be charged a penalty. The amount you need and the time you need to should be considered. You are taking out the installment loan and need to think about payments and your loan amounts to be repaid.
With installment loans, you only pay for the time you use the loan so if you want to make larger monthly payments to pay off installment loans faster you can, or you can stick to the low monthly payment agreed to by you and your lender.
Get your cash loan now
If you think that an installment loan can help you and want to learn more about how to get the process started just call our toll free number and speak to one of our representatives. If you are ready to move forward now just hop on over and fill out our easy online application. You could see funds in your account this week and be one step closer to overcoming that financial hurdle you’re facing.