Installment Loans For Bad Credit | No Credit Check Installment Loans
You need an installment loan when you are anticipating having to pay back over months rather than weeks. This usually happens when you have an unexpected expense in your life
Struggling with how to pay for an unexpected car repair? What about an emergency medical bill or a quick fix for something in your home? We’ve all been there! Sudden expenses come out of the blue sometimes and really throw a wrench into our budget. When these things happen there often aren’t a lot of places to turn. Here at Gadcapital.com, we want to make finding a solution easy for you when you need money now.
If you are looking for shorter-term solutions and not monthly loans, you should look at our online same day loans section. These are direct lenders installment loans with quick approval and for shorter durations. For a longer term, then read on: Our direct installment lenders offer many types of loans for bad credit. A medium-term loan that is useful is called an installment loan. Also available if you have a poor credit score.
What Documentation Will I need?
- A valid national identity card
- A proof of recurrent income or employment
- A working checking account
- You are not active military personnel
What are Bad Credit Installment Loans?
These loans are for people who have a bad credit score and cannot get a loan from a bank. Lenders mostly rely on credit scores when making their lending decisions and that puts people with a poor score at risk of not obtaining one.
Installment loans for bad credit, the lenders understand that you pose a large risk and therefore charge additional interest to compensate for this. This means you get your loan but it is at a higher cost if your credit score was good.
Where to Get Installment Loans?
Online installment loans with guaranteed approval aren’t possible and there is never a guarantee that your loan request will be approved. For a better idea of if your request would be approved, you should look at the following aspects of a loan:
- A wide network of lenders
- Quick request process
- Your Income
- Your Credit History
How Do I Qualify for Installment Loans Online?
Similar to requesting any other loan, the potential recipient of an installment loan must meet certain criteria in order to be approved. Most applicants are pleasantly surprised when it comes to how simple the qualifications are.
How Old Do I Have To Be?
The first qualification is age; you must be 25 or older to be eligible to receive installment loans for bad credit. Next, the potential borrower must have a bank account that is eligible for receiving direct deposits. Online personal loans are always transferred electronically so a direct deposit account is a must.
How Much Money Do I Need To Earn?
The third qualification is a minimum income of at least $1300 per month. This requirement is simply to make sure that you won’t have a problem making a monthly installment payment to pay back your loan. The final qualification is proof of employment. You can typically prove this by showing a recent paycheck stub or letter from your employer.
If you meet this set of criteria then you will more than likely be qualified to receive installment payday loans. If you want to start the process right away then either fill our online request form right here at gadcapital.com.
Can I get an installment loan over the phone?
Yes, you can also call our toll-free number (800) 961-5909 to speak with a representative who will walk you through the request process verbally.
Do No Credit Check Loans Exist For Bad Credit?
If you are asking yourself this question then you are in luck because the answer is “yes!” You may have noticed that no credit checks are not a requirement for an installment loan. With poor credit, no credit, or even a bankruptcy in your past you can still be approved for payday installment loans.
Don’t let a rough financial past keep you from looking into solutions that could help you in the present. Installment loans have helped thousands of Americans who are struggling and they can help you too! You should also check out the no credit check payday loans.
Are Installment Loans for Bad Credit repayments Monthly Or Weekly?
The repayment terms of online installment loans for bad credit are normally drawn up and agreed upon before the funds ever hit the borrower’s checking account.
Direct lenders in our network for installment loans are open to terms that vary anywhere between 14 and 18 months. The payment schedule is monthly but you can agree weekly if that suits you better.
Just remember that interest does accrue daily based on the amount of money you borrow. The good news is that if you decide to pay off your loan early you will not have to pay a penalty.
Similar to a Morgage Payment
This system may remind you of monthly payments on mortgages or auto loans, and that’s because they work just like them! There are an agreed upon a number of scheduled monthly payments and a clear end date of the loan.
The biggest advantage to an installment loan is that you only pay for the time you use the loan. Whether you want to pay off your loan quicker with larger payments or make smaller payments over a longer period of time, you have control over how much you pay in fees.
When Can I Get An Installment Loan For Bad Credit?
Gadcapital.com wants to help. Our aim is to make the process as simple as possible and it starts with our online loan for bad credit request form. It will only require information from you that shouldn’t be hard to access such as general contact information.
Your Loan Details
Your loan amount requirements, bank account details, and employment documentation. Once we have that information it is passed on to a direct lender who will analyze the information to see that you qualify.
Your Signature For Your Loan
Once a lender approves your request you are sent electronic loan documentation that will require your review and signature.
Get Your Cash
After you sign the loan documentation and send it back to your installment loan lender. They will process it and get the funds into your account usually within a couple of business days.
Fill out the online loan request form here at gadcapital.com today or call. You’ll be on your way in no time at all with no hard credit checks.