Guaranteed Installment Loans for Bad Credit Direct Lenders Only

Need money really fast? There're a lot of online direct lenders promising instant approval for bad credit Installment Loans online. You can get up to $5000 quickly, easily, and conveniently and solve any financial problems, especially in case you have a poor credit score. Find out how to get guaranteed Installment Loans for bad credit. 

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What are Bad Credit Installment Loans Guaranteed Approval

If you're looking for a way to get your hands on some much-needed cash, but you have a poor credit score, you may be wondering if there are any installment loans available to you. The good news is that there are plenty of reputable lenders who offer installment loans to bad credit borrowers. So, what's the catch? Well, the interest rates on these loans tend to be quite high, so it's important to shop around and compare rates before you decide which lender is right for you. And, keep in mind that not all lenders offer installment loans to bad credit borrowers - so your best bet is to start by searching online for "installment loans for bad credit." That way, you'll get a comprehensive list of all the lenders.

Anyone with a score below 580 is considered a subprime borrower which means they used to have some problems paying off debts in the past and may be treated as risky customers for most lenders. But luckily for you, Online Installment Loans are the way out for people even with bad credit. Most lenders approve of you accessing your financial situation individually and taking into account other factors such as your employment history, average income, homeownership, etc. On the one hand, it’s very good as it makes Installment cash advance quick to get and easy to qualify for. On the other hand, it leads to higher rates as lenders need to make up for the risk they take.

One option you might be looking for is a bad credit loan with guaranteed approval. If you buy a loan with bad credit, you may encounter offers that claim "guaranteed" approval regardless of your credit rating.

While a lender may pre-qualify you for a bad credit Installment Loan based on the advance information you give final approval depends on your credit rating, income, and other factors.

"Guaranteed Credit" offers are common among auto loans or other secured cash advances, especially those that handle their own in-house financing.

There are a number of reasons why online installment loans for bad credit are a good solution:

• Lenders approving subprime borrowers are not likely to run a credit check.
• It’s a good option as you have few chances to get urgent cash from banks and credit unions if your credit score is low.
• Convenient terms and a flexible repayment plan help you pay off the loan on time and avoid further debts which may even lead to raising the score.
• You can consolidate your existing debts.

Bad credit Installment Loans with guaranteed approval will give you the advantage to not only build your credit score but also ensure long-term stability in a short span of time.

No Denial Installment Loans Direct Lenders Only - How They Work  

You’ve decided to solve your financial problems by taking out an online Installment Loan? But need some explanation and advice on how it works? Read through our expert guide on the available amounts, terms, rates, fees, the application process from start to finish, and as a bonus learn some free tips on how to do it faster, easier, and cheaper.

An installment loan is called this way as it’s paid off in installments. You can borrow from $1,000 to $5,000 depending on the lender and your credit score, income, and various other factors. The term may vary from 6 to 36 months on average and you can choose the most convenient payment plan: monthly, biweekly, etc.

An installment Loan may seem similar to a Personal Loan which concerns the purpose of its use for any personal needs. But, most lenders advertise Installment Loans as short-term smaller-amount bad credit cash advance with no credit check and instant approval.

How to get Guaranteed Approval for Installment Loans 

To get guaranteed approval for a bad credit installment loan online from a direct lender there're a few basic steps to follow:

1. Complete the application form online in a few minutes.
2. Get multiple offers from the most suitable direct lending companies.
3. Compare the rates and terms to find the best loan to cover your needs.
4. Get approved the same day and receive money instantly in your bank account.

Easy Approval for Any Needs 

Bad Credit Installment Loans, considered by many as more profitable than payday loans, are very useful for taking care of one-time expenses. In addition, the application process for these loans is fast. Many borrowers tend to use them for emergencies such as:

• Overdue utility bills.
• Unscheduled repair.
• Medical expenses.
• Improving credit score.
• Consolidating debts, etc.

One of the main reasons for such popularity is easy approval for Installment Loans even if you have a bad credit score. Applicants need No guarantor, No collateral, No paperwork, No credit score requirements, No hard credit check, No faxing. Applying for an Installment Loan online takes several minutes and in most cases, you get an instant decision from direct lenders. If approved, you may take hold of the funds within 24 hours.

Can I get a Guaranteed Installment Loan with Poor Credit? 

In most cases, applying for an installment loan online is quick and easy. Borrowers of installment loans are to fill out an application form online and present a document confirming the existence of an active current bank account. Once the lender processes and verifies the information, the applicant is notified in writing of the decision to approve or reject the loan.

Online Installment Loans for bad credit differ from in-store cash advances by their high availability, easy application process and good approval rates. Getting an installment Loan online takes less time and requires less paperwork. Besides, you get 24 / 7 customer service and an opportunity to choose among a variety of companies and offers.

Guaranteed Installment Loan from direct lender benefits:

• Getting an Installment Loan is fast and easy as you apply online filling out a free application form and get the money deposited into your bank account the next business day;
• It’s really highly available for bad credit borrowers as lenders consider other factors besides your score. But it may lead to higher rates to make up for a high risk the company takes;
• Neither collateral nor guarantor is required as most Installment Loans are unsecured;
• Although lenders may avoid doing hard credit checks with one of the three major credit bureaus, they may do a soft inquiry with Teletrack, a company that provides credit information specifically to short-term lenders.
• Besides credit score and credit history you need to meet other requirements such as certain income, employment, etc.
• Repayment is rather convenient as scheduled installments help you plan the budget and not default the loan.

What you should look out for before applying for an Installment Loan from direct lenders only:

• Interest rates can be rather high as there are no limits from the states;¹
• The easier you get approved the more risks you face with getting into debt as you don’t know whether you can afford this loan;
• Rollovers and extensions may seem a good option but on the other hand, they will double the price of the loan;
• In case of default, you may become a victim of hard debt collecting companies. Don’t panic, look for consumers’ protection at the official state organization.

Are you still in doubt? Got lost in a great number of advantages and disadvantages Installment Loans have? Look at the table to clear it up once again and choose the pluses or minuses that overweigh in your individual case:

Pros

 

• Your chances of approval are much higher.
• You don’t have to wait days to get an answer but will know almost instantly if you are approved for the loan.
• The request forms are short and simple, asking for only basic financial and personal information and taking but a few minutes to fill out.
• The cash can normally be credited directly to your bank account within a single business day.
• You get more time to repay than with an online payday loan, but a shorter repayment period than with most bank loans. This means you don’t have to repay in one lump sum but yet will not be burdened with payments for long periods of time.
• You can request from the privacy of your own home, online, and not risk being asked embarrassing questions in a loan interview.

Cons

 

• The interest rate is higher than some other types of loans.
• There may be origination fees and other costs to procure them.
• Qualification for a loan requires documents such as proof of income.
• People with very low credit ratings or a recent bankruptcy may need to pay higher interest, find a cosigner, or provide collateral.
• Any purchases made with the funds may be repossessed if the borrower fails to make payments on time.
• Previous payments will not be returned if the borrower defaults on the loan.
• Some lenders may offer unreasonable terms, particularly to people with poor credit records or low income.
• There are several methods of calculating interest, which can be confusing to many people.
• The conditions cannot be changed once the loan is signed, even if the borrower's financial situation changes. Some lenders allow refinancing, but this requires taking out an entirely new loan.

Follow expert advice on getting guaranteed Installment Loans even with bad credit:

• Make sure you can afford monthly payments, they are advised to be not over 10% of your monthly income.
• Sign up for automatic withdrawal to ensure you always pay off on time.
• Shop for cheaper loans, compare rates, and terms of different lenders.
• Look for a reliable licensed lender with verified reviews.
• When borrowed responsibly, online unsecured Installment Loans are a helpful tool for bad credit consumers.

"There are two primary choices in life; to accept conditions as they exist, or accept the responsibility for changing them. " -   

Denis Waitley

Do direct lenders guarantee instant approval for bad credit Installment Loans?

Applying for a bad credit Installment Loan you expect to get approval and get it fast. You are ready to pay higher interest rates as you badly need the money quickly and without any additional requirements, checks, paperwork, etc. Approval for an Installment Loan is easier to get online from a direct lender or broker than from traditional banks and credit unions, but we can’t say it’s 100% guaranteed. We offer the best way – fill out a free Compacom form right now and in some minutes, you’ll learn if you qualify for a loan.

Do I qualify for a guaranteed Installment Loan? 

The lenders' requirements to get guaranteed approval for bad credit Installment Loans are the following:

• US residence
• Minimum regular income of $1,000 per month
• Valid checking or savings account with direct deposit
• Phone number and e-mail address (if applying online, you must be able to be contacted via phone if verification of application information is necessary)
• Not be a regular or reserve member of the Air Force, Army, Coast Guard, Marine Corps or Navy (or be a dependent of someone who is,) serving on active duty under a call or order that does not specify a period of 30 days or fewer.
• If applying Online, you must provide a valid Social Security Number
• If applying at Loan Store, you must bring a valid government-issued photo ID. A Social Security Number might not be required
• If applying in-store, you must bring proof of income and proof of a bank checking account. Debit cards or pre-printed checks may be accepted in your state as proof of bank checking account; contact your local store for details. Acceptable documents may vary by state.

While it’s not easy to find 100% guarantees in the consumer credit world, what you can often find in abundance are lenders with flexible credit requirements that will give you a chance even with poor or bad credit history.

Why Apply Online for Guaranteed Installment Loans for Bad Credit direct lenders only  

Choosing Installment Loans from direct lenders raises your chances of getting the necessary funding regardless of your credit score and even avoiding hard credit checks. Consider the top-rated Installment Loan lenders offering cash advance even to borrowers with poor credit:

You choose Installment Loans as they are advertised to be highly available even for borrowers with bad credit and with NO credit check which doesn’t affect your credit history. ²

Direct lenders are those companies that finance their installment loans on their own or with their partners. These lenders are mostly non-Bank bodies that offer instant loans at much simplier terms than traditional financial institutions, but mostly have a higher interest rate compared to a Bank.

Not direct lenders are usually brokers, or matching services, or small companies rather than large listed companies and wealthy individuals or asset management firms. In contrast to banks or credit unions the majority of online direct lenders don’t set any minimal credit score requirements and provide Installment loans to both good and bad credit borrowers. Therefore, it’s preferable to apply with direct lenders as they have full control over the proposed rates and conditions.

Besides, online Installment Loans WITH credit checks have many advantages which outweigh the effect a hard inquiry may have on your financial situation:

• Highly Accessible: 24/7 online with no hassle of driving and waiting in lines.
• High Approval Rates: Most borrowers even with bad credit are likely to be approved for online Installment Loans.
• Simple and safe application forms: Only the most essential information is required to fill out an application.
• Quick processing: It takes only minutes to request a loan and get an instant decision from a suitable direct lender who will deposit the funds into your bank account within a day if you are approved.
• Convenient and flexible repayment plan: Longer terms up to 36 months with repayment in equal usually monthly installments.
• Better rates: Installment Loans WITH credit checks tend to have lower rates/fees than NO credit check cash advance.
• You may raise your credit score: By making payments on an Installment Loan on time you can improve a damaged credit score.

Guaranteed Installment Loans for bad credit no credit check 

In some cases, you can really avoid hard credit checks from one of three major credit bureaus Equifax, Experian, and TransUnion. And if they perform a hard inquiry, you’ll be informed of this beforehand. Direct lenders can evaluate your creditworthiness by checking your income, employment history, previous debts, etc. It won’t affect your credit history on the one hand and will let the lender cut back on risks.

But NO credit check at all is more like a myth than reality. If you see a lender promising instant approval with NO credit check be careful and think twice before applying. It may be a fraud.

Consider the mentioned above pros and cons to decide whether you’ll go on looking for a NO credit check loan or you’ll resist this temptation and not take a risk of facing fraud.

Don't worry, most direct lenders won't reject your Installment Loan application because of your bad credit report. Lenders will process your request for $1000 - $5000 cash advance even if you have had credit problems such as debt in the past as long as your current income is sufficient to make payments.

Don’t want to affect your credit history taking out an Installment Loan? Looking for No credit check cash advance? Check out all the dangers they may set up before applying:

1. The high interest you can’t afford which leads to defaults and debt.
2. Taking out another loan for additional fees, rollovers, applying for an extension plan, refinancing, etc.
3. Loan defaults. It happens to 20% of Installment Loan borrowers. In the case of not paying the money off on time you may have the funds withdrawn from the bank accounts, the purchases repossessed and even become a victim of debt collectors.
4. Penalty fees: overdraft fees for a failed attempt to withdraw funds from your bank account or non-sufficient funds fees for having not enough money on the account at the time when the loan is due.
5. A bank account can be closed if it has a negative balance for an extended amount of time.

Alternatives to instant approval Installment Loans for bad credit 

If you need fast cash, you may be able to find alternatives to no-credit-check loans. Consider some of the following: 

• Credit unions or banks.
• Online Payday Loans (with credit check).
• Personal Loans (from direct lenders performing a credit check).
• Credit cards.
• Social Government programs.⁴
• Asking friends and family for help.

 Though each of them has its own pros and cons they are still less risky.

Final Thoughts

• There is no such thing as a guaranteed loan. While some lenders may advertise guaranteed loans, there is always a risk of rejection, and these loans often come with high interest rates and fees.
• Consider lenders who specialize in bad credit loans. Some lenders specialize in lending to borrowers with poor credit, and may be more willing to work with you to find a loan that meets your needs.
• Shop around and compare rates. Different lenders may offer different rates and terms, so it's important to shop around and compare options to find the best deal.
• Look for installment loans. Installment loans allow you to repay the loan in fixed monthly payments over a set period of time, which can make budgeting and repayment more manageable.
• Be prepared to provide proof of income and other documentation. Lenders will typically require proof of income and other documentation to verify your identity and creditworthiness, so be prepared to provide this information.
• Avoid payday loans. Payday loans may seem like an easy solution, but they often come with extremely high interest rates and fees, and can trap you in a cycle of debt.

Ultimately, if you're looking for guaranteed installment loans for bad credit, it's important to do your research, shop around, and carefully consider your options before making a decision.