What Are Installment Loans?
Installment loans let you borrow money and repay it over a certain period of time or in installments. One of the benefits of installment loans is that they typically have fixed interest rates and fixed monthly payments, making your monthly payments more predictable up to the last installment. Also, with a fixed rate written in the agreements, you don't have to worry about any sudden rise in interest rates.
There are different types of installment loans including personal loans, hypothecary loans, and auto loans, all of which serve different purposes.
How Do Pre-Approved Installment Loans Work?
Pre-approved, pre-qualified or guaranteed approval loans are common advertising tactics of many lenders. In reality, these loans do not exist because credit checks can't be avoided. Lenders are likely to perform soft credit checks if not hard credit checks to get an idea of your creditworthiness.
Furthermore, while pre-approved installment loans do not exist, many of our partner lenders have a high approval rating so when you submit an application with them, you have a higher chance of getting approved as long as you meet the loan requirements.
What Can I Do With My Installment Loans?
Generally, we accept loan requests up to a $5,000 loan, except for personal loans that fall under installment loans as it allows you to borrow up to $35,000. This sum of money is already huge and you can use it for a wide range of purposes such as to help you finance a car, home renovation, wedding, appliance purchase, debt consolidation, or emergency expenses among others.
One of the advantages of installment loans is their versatility when it comes to where you want to use the proceeds since there is no restriction regarding installment loan usage. This gives you more freedom to spend the money on what matters to you.
Can I Get Installment Loans Online?
The easy answer to this question is yes, you can get installment loans online. Many lenders nowadays are already Internet-ready, which means that loan applications are now more convenient and easy than ever. You could simply visit the lender's website and from there submit your loan application. You need to repeat this whole process depending on the number of lenders you are considering.
If you don't want to be burdened with visiting every lender on your radar, USBadCreditLoans can greatly increase the efficiency of getting loans online and can massively save your time. To get started, just follow these simple steps:
- Submit information. Enter your information and upload the necessary documents by utilizing our secured online form.
- Choose an offer. After receiving your information, we will share them with our partner lenders which in turn may send you loan offers to compare after they are done assessing your eligibility.
- Review terms and agreements. Before finally submitting your loan application with a lender, review the agreements and sign the required documents.
- Get funds. If your loan gets approved, you can then get the funds deposited into your checking account within at most 3 business days.
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What Makes USBadCreditLoans Stand Out Among Others?
If you are currently under financial crisis and looking for getting installment loans online to deal with emergencies, USBadCreditLoans is the one to go. Yes, there are indeed many loan brokers out there but what sets us apart are as follows:
Fast and Easy Approval
Many of our partner lenders are available round the clock so when we deliver your request to them, they can provide you with a decision in just a few hours after submission. Apart from that, these lenders have an easy and hassle-free online approval process. Once approved, they will deposit the loan funds into your bank account.
Huge Partner Lenders Network
Having access to our huge network of partners gives you access to more installment loan offers to compare. It's easier to make an intelligent decision on which loan offer to choose when you have access to different loan offers all at once with varying interest rates, loan terms, and loan limits among others.
Bad Credit Friendly
The lenders in our network do not discriminate against borrowers who have less than a good credit score. This gives more people an opportunity to borrow money despite their bad credit history. While lenders may still look at your credit report, they will also consider your overall financial status, especially the assessment of your ability to repay the loans based on your income situation, when making a decision.
Instant funding means that our partner lenders will not let you wait many days before they will deposit the money into your bank account. Many lenders will deposit within the same day or as soon as a few hours. However, delays may happen due to the specific lender you choose to work with and banking system processing time.
How Does US Bad Credit Loans Compare?
|Why US Bad Credit Loans?|
|Will bad credit be accepted?||Yes||Ideal for bad credit|
|What is the max loan amount?||$35000||Zero hidden charges|
|What is the max loan term?||36 months||Flexible repayment options|
|Can I repay the loans in installments?||Yes||Convenient repayments|
|Are there credit checks?||Yes||Soft search only|
|How can I apply?||Apply online||Instant application|
What Will Happen To My Credit After Getting Pre-Approved Installment Loans?
Most of the online lenders we partner with will likely perform a credit soft pull as a mandatory process due to strict financial regulations A credit soft pull is a process in which financial institutions can assess your credit background without affecting your credit score. Soft credit checks are common during online transactions, for example, you can ask for a pre-approved credit card limit increase without affecting your credit score by allowing the bank to perform soft credit checks. However, if the lender did a hard-credit check, it will reflect on your credit report and could pull your score down. On the other hand, as long as you consistently make your payments on time, it can gradually improve your credit score over time.