Installment Loans

  • No Credit Check Required
  • Pay Back the Loan Over Time
  • Lenders Compete to Give You the Best Deal
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Installment Loans Online – Helpful Information

Installment loans allow you to make payments over a long period of time, instead of having to pay back a traditional short-term loan all at once. Sounds pretty easy, right?

  • No credit checks or faxing
  • Apply in less than three minutes
  • Direct deposit in as little as two hours
  • Your information stays confidential
  • Lenders compete for your loan
  • Applications are always secure

The terms and limits of making a set series of payments are very similar to our other loan offerings. Usually there are no credit checks, the funds are direct deposited into your account, no need to break out the old fax machine, etc.

Installment loans help ease the stress of paying off bills or an unexpected emergency by allowing you to pay it back one payday at a time. Next time you think to yourself “I need a loan!” be sure to apply through us.

Installment Lending Compared To Other Types

Installment Loans Graph

* Number of days for repayment is determined by local law. See our Terms of Use & Disclaimer.

APR: The equivalent annualized percentage rate for payday loans and other short-term installment loans ranges from 547.5% to 999.45%, based on the amount and the length of the loan.  Larger loans with longer payback periods have lower interest rates.  While this sounds large, one must consider that these loans are only meant to be for a very small time-frame, usually 2 weeks.  Annualizing other fees in the same manner results in APR of 2336% for a returned check fee of $32 against a $100 check, a 965% fee against a $37 credit card late fee or over the limit fee, or a 1203% APR for a typical $46 reconnect fee by a utility company.

Financial Implications: Short term payday loans are meant to be just that: Short term.  Typical fees range from $15 to $40 for every $100 borrowed up to $500.00.  Fees per $100 begin dropping on loans larger than $500.00.  Fees are typically less than what borrowers can expect to pay for bouncing a check, having a utility disconnected, or paying a credit card bill late.

Collection Practices: If a loan becomes delinquent, attempts at collections are first conducted internally, primarily through telephone, an attempt to work out a pay-off arrangement that takes into strong consideration the financial condition of the borrower.  If, after all attempts at internal collections have failed, the lending agency may send the loan to a third party collection agency in an attempt to recover the funds lent in good faith.

Credit Score Impacts: Short term, payday loan lenders may rely on any of the three (3) major rating agencies – Equifax, Experian, or Transunion. Generally, the borrower doesn’t have to bear concern that their score may be affected by having the loan request determined by results from these agencies, however, such determination is solely in the discretion of the payday loan lender(s), which may result in the lender(s) submitting, among other things, the borrower’s request for the loan, or the subsequent payment(s) under the loan to any of these agencies. Short term lenders may also rely on their own scoring criteria, which is generally based on income and ability to repay, as well as the borrower’s payment history of any previous payday loans that have been made with the lender in question, or with other payday lenders.

Bad credit is OK

Having bad credit prevents a person from obtaining many kinds of personal loans, but you’re ok applying for a bad credit installment loan. In most cases, no credit checks are required when processing applications.

Applications for loans (even if you have bad credit or poor credit) for amounts up to $1,500 can be approved instantly, and you can have access to the funds in just a few hours.

Keep your budget in place

Responsible lending is one of our primary concerns, so keeping your budget in mind when borrowing any amount is important. Don’t borrow more than you can pay back responsibly. If it happens that you can’t make your payment on time, most states allow for you to make installment payments. That’s one less thing to worry about, but try to keep your requested loan amount reasonable so that your finances aren’t strained.

Our lending solutions are a short term solution to temporary budget problems, but are no substitute for long term financial planning and management. Make sure you ask your approving lender about monthly installment loans.

Lending and Payment options

You can apply for a personal loan with installment payments up to $1,500 through Personal Money Network. The application process is quick and easy, and you could get approved for a personal installment loan in as little as three minutes!
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