If you want to get a low rate personal loan for 12 months from the bank, you need to have a good credit rating. And if you don’t, where can you get bad credit monthly installment loan? Credit plays a very crucial role in your financial well-being because when you need to borrow money, it will either make or break when it comes to getting that mortgage or when you are trying to get a large loan for your business. It takes time to improve your credit score and no matter how adverse your credit records are, you need to make it a point to pay your bills on time, even if the debt you owe is a small amount. By restoring your credit ratings, you stand a better chance of getting unsecured loans you can pay back monthly.
What if you have bad credit and you really need a cheap monthly installment loan for, say, 3000 dollars or 5000 dollars with 24 month payback? Financial help doesn’t have to come from the banks or credit unions and although it is a more expensive solution, there are online installment loan lenders who can give bad credit loans for more than 100 days. Of late, the very same ezy payday loan companies that provide those short term loans till payday have started offering no credit check monthly installment personal loans. In principle, it is the same type of unsecured signature loans that are offered by the banks – you borrow 3000 dollars for 6 months and make the repayments on a monthly basis, except that it is now provided for people who have low credit scores.
No collateral is required on your part but to qualify for such high risk loans, you have to provide to the installment loan companies of your income earnings. At the very minimum, you need to earn at least 1000 dollars per month to qualify and whether you are allowed to borrow more than 2500 dollars is entirely up to the lenders’ discretion. Some of them may require you to build credit trust and allow only a maximum loan of 1500 dollars first. There is always a credit check being carried out but if you do not owe any outstanding debt to any other payday loan lenders, it is highly possible that you may be accepted, and the same result if you have declared bankruptcy voluntarily or otherwise. To get a quick signature loan today, we recommend you to visit our partner’s website to find short term installment payday loans.