Installment Loans – Direct Lenders Help With Bad Credit
As an employee, you will always find yourself in need of money in the middle of the month when you are waiting for your next paycheck. The situation could be so urgent that you have to handle it immediately.
This could be cases such as repairing a damaged roof or a repairing a broken car. If you are in such situation and you need immediate cash, it can be challenging especially if your credit score is not in good shape.
People with bad credit often find difficulty in accessing credit facilities because conventional lending institutions such as banks and credit bureaus use it as a measure of creditworthiness. This means that if you have a credit score of less than 600, you will be denied a loan.
Are Guaranteed Installment Loans Legitimate?
Legitimate companies will not offer you a Guaranteed installment loans because not everybody will qualify for the loan requested. The are no guarantees, but you are notified as to whether your loan request was accepted or not. A direct lender offered by online lenders could be useful. Unlike direct lender payday loans, the installment loans direct lenders is a type of loan where you repay in equal amounts for a set period of time.
You will agree with your lender on the duration of the loan, the interest rate and the amount that you will be required to repay on a monthly basis. This kind of loan is available to you even with your less than stellar credit history, and you will be able to deal with any financial emergency as soon as possible.
Lenders in our network have less stringent conditions, and you can easily qualify for a loan as long as you are able to meet their requirements. All your lender needs to verify is your
income or employment,
working email address and
an active checking account.
Relying on your income can be a daunting task because you never know when an emergency will occur. In most cases, you have budgeted for your income to meet your needs at home, and you rarely have a fully funded emergency account.
When a difficult financial situation arises, and you are required to deal with it immediately, it becomes a challenge. We work with a large lender network. Many lenders have been in the industry for a while now, and they will help you deal with your financial crisis.
Depending on your current income and financial obligations, you can be connected to a lender that will allow you to repay the loan as well as meet all your financial needs.
You are subject to a soft credit check
It is important to note that there are many lenders who claim that they do not perform any credit checks on their borrowers. This is not true because your lender has to verify the information given. Your lender will perform a soft credit check. This is usually to verify the validity of the information.
This kind of check does not appear on credit bureaus list, hence it will not affect your overall credit score. Once your lender can ascertain that you will be able to repay the loan on time and the information submitted is correct, the loan is disbursed to your checking account.
If you are in need of urgent cash to sort out a problem, it is time to go for direct lender loans. Online installment loans for bad credit are the best because there are no intermediaries or brokers. Brokers will increase the interest to get their own money.
If you are dealing with direct lenders, you are sure that you will get the value of your loan and you will not incur an extra charge that you do not expect. With payday loans, you can overcome financial challenges quickly and plan for a solid long-term financial plan. You don’t have worry about strangers coming to your house to give notice of eviction or auctioning your assets to get their money.
You can use direct lender installment loans for bad credit only from a lender to expand your business if you are an entrepreneur. This is highly effective because you can boost your stocks and generate sales as you repay the loan in installments.
If you are a small entrepreneur, you may not be having an additional income generating activity to pay for the additional stocks. However, with the installment loans, you will be able to get the stocks and improve sales in your premise. You can talk to your lender about the best way that you can repay the debt without affecting your daily activities.
Quick and convenient loans
The main aim of this kind of loans is to help you deal with financial challenges that come abruptly. You are not worried because you can agree with your lender on the terms and conditions as well as the interest rate.
Since you are repaying the loan in equal installments, you can choose to repay the loan by yourself or allow your lender to deduct the money automatically from your account.
With the automatic deduction, all you need is to ensure that money is loaded to the account on the agreed date. This will prevent any extra charges that may arise as overdraft charges. You can research and get a lender who understands your requirements.