Guaranteed Monthly Installment Loans No Credit Check Direct Lenders

Having a bad credit score is one of the major problems for those who are looking for installment loans. If you are also one of those people then you are in the right place. 

Installment loans are not only for those people who have a good credit score. It could be possible that you have a bad credit score but the truth is there are several institutions that offer 'monthly installment loans with no credit check direct lenders'. Here is what you need to know about these loans even if you have a poor credit history.

This might be surprising for you to know that these loans are also available for bad credit people, but it is true. These loans allow you to make regular payments to pay off your loan amount on a monthly basis. Unfortunately, not many people know about this and because of that, they get trapped in a financial bind.

What Are Installment Loans?

These loans are one of the most common loans available in the market, for example, a personal loan or an auto loan also falls under installment loans. This type of loan gives you a certain term and conditions for repayment and provides you a lump sum. Unlike any other short-term loans, these loans allow you to repay your loan amount over a certain period of time instead of pay back the whole amount at once. You can borrow these loans from a few hundred dollars to several thousand it all depends on your needs, your lender and sometimes your credit history. 

Benefits of Installment Loans

Taking short term loans or other payday loans can be stressful because you have to pay the whole amount at once on your next payday. This sometimes leads you to do a rollover and before you could understand anything, you will find yourself in bigger financial debt. However, it is also true that the interest rates could be high if you have a bad credit score and no guarantor. but on the other hand, installment loans make loan amounts more affordable and easy to pay back. 

This loan provides you a longer payback period, compared to other bad credit loan options these loans could provide you lower periodic payments. In this loan, you can pay back the money as quickly as you like without any penalty. You can pay back the money if you have, or else you can follow your normal payment schedule. The choice is yours.

Requirements of monthly installment loans with no credit check direct lenders

Let’s assume that you have a poor credit history and you are not able to qualify for other traditional loans. Instead of borrowing any payday loans or other short term loans, an installment loan for bad credit direct lenders is a better option. The qualification for these loans is not much difficult compared to traditional bank loans. Some of the requirements given below: 

• Must be at least 18 years old
• Must be a permanent U.S. resident
• Must have a regular source of income
• Must have an open bank account
• Must have a valid residence address
• Must have a working phone number

The best part is these loans don’t require a lot of paperwork or documentation, which means if you meet the requirements then you might be able to get the loan on the same day and the money will deposit into your account within 24 hours.

If you have a bad credit score then finding a loan to tackle your financial need is difficult unless you apply for risky payday loans. Installment loans are reliable and easy to get you can apply for these loans online without letting your foot out of the home.