If your refrigerator stops working, you can’t wait until your next payday to resolve that issue. If your car stops working, you might not have a job to drive to anymore if you don’t get it fixed right away. Where can you turn for easy installment loans when you need cash now and don’t have any money left in the bank?
Payday Loans Are Available to Everybody
A payday loan is among the easiest type of loan for anyone to acquire. There is no credit check, which means that you don’t have to worry about a past bankruptcy or repossession preventing you from getting the money you need. It only takes a few minutes to fill out the application, and you can get a loan decision in a matter of minutes. The money is then sent to your account within hours.
Bad Credit Lenders Are Another Good Option
There are lenders available who specialize in working with those who have bad or no credit. The difference between a bad credit lender and a payday lender is that the bad credit lender may report your payments to credit agencies. This enables you to build your credit score and history over the life of the loan. Assuming that you make all of your payments on time, you could improve your credit and become eligible for more traditional loans in the future.
Peer Lending Is Relatively Easy and Fast
A peer loan can help you get the cash that you need without having to pay too much for the right to borrow that money. While it has evolved to involve institutional investors, the majority of loans are financed by individuals like yourself. The loan review and approval process may take as little as 24 hours with the loan funded in less than a week. Loan rates are determined by your credit score, and those with a score of 600 and higher are generally eligible. However, those with a lower credit score may still be approved based on other variable such as income or debt-to-income ratio.
Secure a Loan With Collateral
The easiest way to obtain a loan is to secure it with collateral. For instance, you may put up your house to get an equity loan or your car to get a title loan. Pawn shops may also allow you to use an asset as collateral to get a loan that may be repaid over several installments.
Whether you have good credit, bad credit or no credit, there are many ways to get cash quickly. Peer loans, payday loans and asset-based loans all offer flexible terms and affordable interest rates to ensure that you can repay the loan in a reasonable amount of time.