Many people sometimes need funding to cope with difficult life situations such as car repairs, medical treatment, urgent purchases, and more. However, unfortunately, people with bad and poor credit often find it difficult to find money to cover their needs. Is there any solution for them? Absolutely! A Guaranteed Online Installment Loan from a direct lender is what you need.
What is an Installment Loan?
An Installment Loan is a type of financing that is issued by banks, credit unions and online lenders for a specific period of time. Thus, you will receive a loan and will have to repay it in regular monthly installments over a fixed period of time. It is important to remember that you will have to pay not only the loan amount, but also the interest on the loan.
There are a large number of Installment Loans covering specific purposes. These include Personal Loans, Mortgages, Auto Loans, and more. Thus, you can compare the existing options and choose the one that suits your needs.
Installment Loan amounts
The loan amount of an Installment Loan varies greatly depending on your income, financial situation, credit history, and many other factors that are important to take into account. Often the loan amounts available range from $ 1,000 to $ 100,000. So, an Installment loan is enough to pay medical or dental bills, car repair, home improvement, etc.
Installment Loan terms
As with the loan amount, the loan repayment period may vary. It often varies from 2 to 7 years depending on the loan amount. However, please note that the longer the payment terms, the more you will have to pay as interest.
How to take out an Installment Loan with poor credit?
You probably know that banks and credit unions refuse to approve loans for people with bad or poor credit, so finding funding can be difficult. However, now there are online Installment lenders who offer loans even for those people who have bad credit. This way, even if you have bad credit, you can still get the funding you need.
Can I get a Guaranteed Installment Loan?
More and more people with bad credit want to find a guaranteed financing option for any type of credit. Unfortunately, no lender will be able to offer you guaranteed approval, as they will not want to risk their money. In order for your application to be approved, you will in any case need to meet a minimum number of eligibility criteria.
What are the requirements for getting an online bad credit Installment Loan?
As already mentioned, each lender has its own criteria that must be met in order for your application to be approved. It is also important to pay attention to state laws and make sure you are eligible to apply. So you have to:
- Be a US citizen or official resident
- Be at least 18 years of age or older
- Provide proof of income
- Obtain a valid banking account
- Active phone number and email
Why direct lender is a wise decision
If you want to get a Guaranteed Installment Loan, it is recommended to consider direct lenders. Explore the main reasons why:
- Third parties are charged a percentage for their work. By contacting the lender directly, you can avoid additional costs.
- Approval of the application takes longer. Working with intermediaries, you will have to wait longer for them to transfer your data to lenders. If you negotiate loan terms with the lender directly, you can get a loan much faster.
- Working with third parties is not safe. Unlike intermediaries, direct lenders ensure that your data will not be transferred to others, so you don’t have to worry about your security.
Thus, a direct lender is the fastest, most reliable and safest financing option.
How do online Guaranteed Installment Loans from direct lender only work?
Now the process of obtaining funding has become even more comfortable. You no longer need to go to the lender’s store, as most offer an online application! All you have to do is fill out a simple online form to await approval and receive the money directly into your bank account.
If you want to get a loan as quickly as possible, it is recommended to use the online application. This way, you can get almost instant approval and quick payouts.
How to get a guaranteed Installment Loan from a direct lender with no credit check?
If you see Installment Loans without credit check, then most likely you are dealing with scammers. A credit check is essential for a lending company to see if the applicant will pay off the money on time. However, the advantage is that some lenders do soft credit checks. A soft credit check does not affect your credit score and is often used only to verify the validity of the information. This way, your credit will not be damaged.
What are the benefits of a direct lender Installment Loan for bad credit?
Before applying, it is recommended that you examine the benefits of a loan offer to make sure it suits your wishes and needs. Explore the main ones:
- Simple and convenient online application
- Fast financing directly to your bank account
- Direct lender
- Minimum Requirements
- Bad credit is not a problem
- Loan amounts from $ 1000 to $ 100,000
Also remember that in addition to the loan, you will also have to deal with fees that can vary from lender to lender. Study the offers to find the most profitable for you.
Installment Loan Calculator
Every Payment (Installment) = $522 per month for 0.17 year(s) at 35% APR
* It’s the amount of money you’ll need to pay every month (or other agreed period) according to your repayment plan.
Total Paid After 2 Payments = $1,044
Total Interest Paid* = $44
* The total amount of interest over all the period of the loan.