If you happen to have a poor credit history, applying for a bad credit loan from US Installment Loans is a good option to consider, as the company has an excellent and long-standing reputation within the lending industry for being a reliable source of funding for thousands of consumers looking to get the finances they need to pay for sudden expenses, consolidate debt, make urgent purchases, and more.
This means that even if your credit rating is so new that it has yet to produce a FICO credit score, with the help of this online loan broker service, you still have a good chance of receiving approval for one of their partner lenders. On top of that, it’s worth noting that the company also boasts an extremely fast application process, as it only takes a few minutes to fill out the online form and choose between several different loan products such as personal loans, auto loans, payday loans, cash advances, etc.
At this point, you can expect to receive an instant decision. If approved, you will be able to compare offers from multiple lenders in real-time, and should you accept an offer, you can expect the funds to be deposited into your account within 24 hours or by the next business day, after e-signing the loan agreement.
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What are The Loan Amounts, APRs, and Repayment Terms?
Loan applicants are able to request funding of between $50 and $10,000, with their APRs ranging from 5.99% to 35.99%. And when it comes to repayment, this varies from as little as 3 months up to 36 months, but the company also stands out for having extremely flexible payment options, as you can pick your preferred payment date and even choose from multiple payment options. You can also choose to set up automatic payments or make your repayments manually.
What are The Eligibility Requirements?
Unlike most other lending companies out there that offer personal loans, US Installment Loans doesn’t come with a minimum credit score requirement for borrowers. There are also no minimum annual income requirements, but before you can apply for financing, you’ll first need to provide: proof of income, a valid, government-issued ID, proof of US residence, as well as your social security card.
What are The Key Features?
One of the best features of US Installment Loans is the swiftness of the application and loan approval process. On top of that, its service is also completely free to use, and its lending network does well to weigh your current income and ability to make repayments over your credit rating, thereby ensuring that you aren’t unfairly denied funding when you most need it.
Furthermore, the company goes above and beyond to guarantee that any personal information you input on the site remains confidential and inaccessible to any unauthorized parties. And while there’s no guarantee that you will be granted a loan by their panel of lenders, even if you happen to be denied approval, US Installment Loans will present you with alternative credit-related services and partners that may be in a position to provide you with the funding you need.
You can also find a wide variety of useful resources and educational information on their site on how to successfully take out a bad credit loan. For instance, you can find helpful tips on how to improve your credit score, manage your loan repayments, budget your future income, and more.
What are The Benefits and Downsides of Using This Service?
In terms of pros, the good thing about using US Installment Loans is that they factor employment, income level, and education history into your application, which means that your odds of being granted a loan are higher with them than with most other lending services.
Aside from that, if you need funding in a hurry, you can rest assured that their lending network will process your funds within the same day of approval. You also have the option of including a co-signer on your loan application, which can help increase your chances of being approved for higher loan limits.
Plus, unlike most other lending services, US Installment Loans will not penalize you for paying off your loan early or making any off-schedule payments. On the flip side, the problem with US Installment Loans is that while having a bad credit rating isn’t enough to stop you from securing loan approval, there is still a high chance that you will struggle to secure a competitive interest rate.
All in all, US Installment Loans is a great option to use when you need a sudden cash injection, especially if the amount you are looking for is relatively sizable. The loan repayment terms are fair and reasonable, not to mention, the approval rate is generally high. The online request process is also extremely fast and simple, which means that even first-time borrowers shouldn’t find themselves lost or confused.
If you need a personal loan for bad credit, you should definitely give US Installment Loans a fair chance, but do keep in mind that you should only apply for a loan that you are confident you can afford to repay. Otherwise, you risk falling into bad debt, which can affect your financial future and also negatively impact your credit score even further.
Also read: Top 5 Benefits of Fast Cash Loans