Do you need money at a time when your savings account is empty? Did your son or daughter had an injury and you need to visit the hospital? Or do you need to repair your car to get to work? Our lenders can grant you installment loans even if you have bad credit. Many borrowers choose installment loans because they may help increase your credit score, and the payments schedules are also flexible. It is easy to apply for this loan since the entire process is online. In most cases, our lenders perform credit checks that do not even affect your credit score. These checks are unlike the traditional credit check so the lender a borrower has a high chance of obtaining a loan even with bad credit.
The loan application process is straightforward. You can begin the process by filling out our loan application form. Once you submit the form, our lenders will get back to you with their offers. You can analyze the request by the lenders and select the one that is most convenient for you. You should read the lenders’ terms and conditions before choosing one. When you select the lender to proceed with, you can contact the lender to continue with the loan process.
How Do I Qualify?
Irrespective of the type of loan you want to apply for, you will need to meet certain criteria to qualify for the loan.
- You need to be a legal citizen of the United States to be eligible for the loan.
- You should also be 18 years or above.
- You should also have a source of regular income. This requirement is vital since the lender is not considering the credit score. Your monthly income information provides proof that you can pay the loan. The lender can also use your monthly income information as assurance for the repayment of loan since our lenders do not seek collateral.
- A potential borrower should be able to provide reliable contact details and your social security number.
- You also need to submit details of an active bank account. The lender will disburse the funds into that account.
Interest Rates and Repayments
When you submit all details to the lender, the lender will talk to you about the interest rate, the loan amount and the processing fees. The lender expects you to ask questions if you do not understand anything concerning the loan. After all the clarification has been done, the lender will notify you if your loan has been approved. You might be directed to sign the loan form to indicate your consent electronically. The money will be transferred to your chosen account as early as the next working day.
The lender will also be discussing the repayment schedule with you before the loan is disbursed. Since it is an installment loan, the lender will help you to choose a method that is most convenient for you. This will help you to make regular payments without any stress. Usually, lenders allow monthly and bi-monthly payments. In this case, you will need to choose a due date for every month if you decide to pay monthly. If that date passes without you paying, you have defaulted on the loan. This can affect your reputation with the lender. Hence, choose a convenient date so that you do not default on the loan. You will also need to select the repayment method. The most popular repayment method is the automatic withdrawal option. With this, you will issue a command that enables the system to make the payment to the lender from your account. You need to ensure that there is enough money in that account before the payment is due. The lender can also give you an account number for you to pay the money into on every due date. Some lenders issue reminders when the due date is approaching, however, that is not always the case. You cannot rely on the lender to remind you about your loan repayments. You should keep track of the due date and pay the loan promptly. You will pay late fees as a penalty if you default on your loan. These fees are usually expensive, and you will incur more debt in an attempt to pay them.
Notice to Loan Requesters
We are a website that connects you to lenders; we are not lenders. All our lenders are verified, and they adhere to the state laws regarding loans. We ensure that you are connected directly to the lenders so that there are no additional costs paid to any intermediaries for loan approval. Any third party who will try to contact you as a mediator is a scam and borrowers should not deal with them. Our website is secure, and all information shared on our site is treated with confidentiality. Borrowers can, therefore, provide their details without fear. We encourage all borrowers to provide accurate information to ensure that the loan process is fast. We will also want to inform borrowers that submitting their information through our loan application system means they are permitting us to share their information with our lenders. It is only when the data gets to the lender that you will start receiving offers.
Our lenders also offer several other types of loans. They provide short-term loans such as cash advances and payday loans for people who can afford to repay the entire loan amount in one attempt. We also want the borrowers to know that we are not lenders and neither do we have any influence over loan approvals. We are not in the position to decide who gets approved or disapproved for a loan. If you have any doubts, contact the lender directly about your loan status. Borrowers should also note that submitting your data also gives the lender the permission to run the necessary checks and verify the information you have provided.