Installment Loans Make Payday Advances Easier to Repay
When you have a financial emergency, you need money fast and some times you just don’t think about when you have to pay it back. If you’ve taken out a payday loan before, you know that when your next payday rolls around it can be tough to pay the loan back in one pay period. Now you don’t have to worry about a big payment overdrawing your account and costing you more money.
Now, you can take advantage of the benefits of a cash advance and get more time to pay the loan back. That means less stress for you.
How Installments Work
Installment loans break the repayments into more than one payment. Typically, the installment loans offer you two payments or more to repay the entire loan amount. This helps you manage your paycheck better and you don’t have to take more loans out or extend your loan for an additional cost. In the end, you save money.
For example, if you borrow $1,000 and have to pay it all back on your next payday that can put a lot of pressure on your finances. But what if you paid it back over three or four installments? Instead of paying the $1,000 plus the interest in one payment, you divide it into three or four. Now, you’re only paying $333 plus interest or $250 plus interest. That’s much more manageable.
Buying More Time to Solve the Financial Problem
You also get more time to come up with the money you need so you don’t just go from financial crisis to financial crisis. You can ask for more hours at work, pick up a part-time job, or even sell some items you no longer use. It’s easier to cut back you spending gradually instead of all at once.
Apply Now and Get Your Money as Soon as The Next Business Day
It’s also easy to apply for these loans and you usually get a loan approval within minutes – not days. That’s a huge help if you need the cash right away.
Simply fill out our secure online application and your information immediately goes to our network of dozens of installment lenders. Within minutes, you can start to see loan approvals appear in your email inbox. You’ll have time to review each offer in the comfort of your own home with no outside pressure. When you find the one that suits you best, contact the lender and move forward with the loan. Be sure to ask questions about any terms or fees you don’t understand.
But What If I Have Bad Credit?
A lot of borrowers ask this question. Let’s face it. If you had great credit you probably wouldn’t be here, you’d have a credit card with a high credit limit or a bank loan. But our network of lenders doesn’t care what your credit score is. Most don’t even look at it. They base their lending decisions on other criteria.
As long as you have a job, a consistent paycheck (around $1,000 a month), and a bank account, you’ve got a great chance of being approved and getting some cash very soon. You also need to be at least 18. Also, you’ll have to document your income with a paystub or other documents.
So What Are You Waiting For?
Some of you may still be a little hesitant, as you’ve heard some of the criticisms leveled against payday lenders. So have the lenders and that’s one of the reasons they’ve moved to easier repayment schedules. They know have a useful product that people like you need and now installments payments make it easier on borrowers to take care of genuine financial emergencies.
Sure, it’s easy to say payday loans are unnecessary when you have a great credit score and no problem borrowing money whenever you want. But when you face a financial crisis and need cash now, paying a little extra for a cash advance can make sense. It can be less expensive than paying disconnection and reconnection fees, missing work with a broken down car, or a medical emergency.
Summing It Up
Installment loans are not a perfect solution, but they can help you solve a financial problem. Just keep in mind; you should do everything in your power to pay your installment payments on time. Paying back a loan as agreed raises your credit score and puts you in a better position next time you borrow money. You can qualify for a lower interest rate and better terms.