installment loans?
Question by Jerry W: installment loans?
I’m looking to try to get an installment loan from my local bank for credit purpose only. My credit is bad, how will I be determined if I get one with bad credit? Will they even give me one?
Best answer:
Answer by Jake
Banks basically decides on giving you a loan on these factors.
Affordability, stability, credit worthiness, collateral and net worth. If your credit is not very good bank may ask you for a collateral or you may be subject to risk based pricing. Worse the credit, higher the interest. You may also want to try scheduling 2 lenders who are more aggressive in trying to gain your business such as Credit Union or Wells Fargo.
Hope this helps.
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Categories: Loan Questions Tags: Installment, loans
Installment Loans
Do you know what installment loan is? Do you know what to do with it? Do you want to know everything that there is to know about installment loan? We have a video that will talk about it and teach you the important things you have to remember about installment loans.
This video will tell you how to handle your installment loans properly. To differentiate and discuss deeper the key points why people have to be educated about these different loans.
Also, in this video you will get to be educated more on how to get the total installment cost and use the appropriate formula for you APR. You will be guided by this video which gives you the necessary steps and proper instructions for you not to be confused.
So enjoy and learn more about the points and important things you have to remember about installment loans.
Categories: Loan Videos Tags: Installment, loans
Personal Installment Loan No Credit Check – The Cash You Need When Times Are Tough!
Are you in need of a personal installment loan, but you have credit issues? If so then you are probably looking for no credit check personal installment loans. This is not an easy loan to find because your credit usually is checked for any type of financing. You should know about both types of options for your loan.It is important that you start by checking with your own bank or financial institution.
Your bank might be able to help you even if you think they cannot. If you have been with them for many years, have had other loans in the past with them, or have investment accounts with them, then they may be able to help you when you need a personal loan. They will check your credit, but if you have a good history with them, then they might give you a loan regardless of your credit. Plus if you check with your bank first and they can help you, then you will get a lower rate and it will be very easy to make your payments as well.
Second, you can use Prosper. This is a marketplace for private lenders and borrowers to meet. They will pull your credit, but only once and they will give you a credit rating with them. Once they have done this the private individual lenders will be able to bid on your loan listing and help to fund your personal installment loan. This is a great way to get a loan because it is not always about credit with Prosper. Plus when you are dealing with individual people you will have a better chance to find someone that has had bad credit before and knows how hard it is for you to get the money you need.
Last, the best option for no credit check personal installment loans is to get a payday loan or cash advance. Most of these companies never check credit and it is always based on the income you have. These loans can go from $100 to $1,500, but they will have to be paid back within 30 days. You can usually extend the loan for another 30 days for a fee that is about 3% to 5% of the loan amount. It all depends on the lender. This is a great option if you need money and you need it fast because you can get this type of installment loan overnight and sometimes even with an hour or two. If you have an emergency you have to take care of you can do so with a cash advance or payday loan very quickly.
Written by behing01
Categories: Loan Articles Tags: cash, Check, Credit, Installment, loan, Need, Personal, Times, Tough
What exactly is an installment loan and how do you get one?
Question by Matt: What exactly is an installment loan and how do you get one?
I’m 18 and trying to build credit, and I’m looking to get an installment loan.
Would it be a type of loan where I would take out, say, $1000 and put up $1000 of my own as collateral? I know that I pay it off over a set amount of time at a set interest rate.
I’m just wondering if it’s the kind of loan where I would put something up as collateral or how does it work?
I already have a credit card.
Best answer:
Answer by Ed Atun
It is a legal term. Some loans for $1,000 have no payments. You just agree to pay back the money in 6 months.
An installment loan for $ 1,000 has monthly payments to repay the loan. You are paying in regular “installments”.
Either type of loan can have collateral. The lender decides if collateral is needed. Go to your bank and ask for a $500 loan. You will pay it back every month until it is paid off.
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Categories: Loan Questions Tags: exactly, Installment, loan
Personal Consumer Installment Loan Story
www.AssociationForResponsibleLending.org
The Foundation for Safe and Responsible Lending
Consumer installment loans, long considered the foundation for safe and responsible lending, are in vogue again. This proven money management practice for personal debt is based on sound financial principles and good insight into human nature.
Personal installment loans are a transparent, affordable and disciplined form of credit which helps consumers meet important economic needs. In critical circumstances, these loans also help smooth out income fluctuations and disruptions from unexpected events like car repairs or medical expenses. An installment loan provides a properly structured and timely repayment schedule based on an individual’s actual ability to pay. It also inherently creates the satisfaction associated with achieving important financial goals through the practice of personal responsibility.
Protecting Consumer Access to Responsible Credit Consumers
Making Good Decisions for the Right Reasons
Categories: Loan Videos Tags: Consumer, Installment, loan, Personal, Story