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Installment Loans

Why Does the Interest Differ on Installment Loans?

The interest rate is a percentage added on to the principal of a loan that determines how much someone will pay to borrow money. For instance, if you borrow $1,000, that loan might come with a ten percent interest rate. Therefore, you will pay the creditor $1,100 total to get the loan. Factors that Determine […]

How Do Credit Card Loans Different From Ordinary Installment Loans?

Credit card and installment loans have a lot of similarities. They both involve a consumer borrowing funds that are to be paid back at a later time to the creditor. The primary difference, though, is that credit card loans come with a revolving credit line while installment loans have fixed terms. Revolving credit means that […]

How to Pay Off Multiple Installments Loans: What Options Do I Have?

If you are juggling multiple forms of debt, it is fair to wonder, “How do I get out from under these installment loans?” The mounting debt can be a burden that limits your short and long term financial flexibility. Fortunately, there are ways to conquer your installment loans. Best Strategies For Paying Off Multiple Installments […]

Why Am I Declined for Installment Loans?

An installment loan is a type of loan borrowers take out, and creditors expect them to make payments on every month. If the creditor declines an application for a loan, it suggests that they do not think the borrower can pay it back. The two most common reasons for a declined installment loan application are […]

How Long Do Installment Loans Stay on Credit Report?

An installment loan is a type of financing where a lender provides a principal sum of money to a borrower. In exchange, the borrower will pay back the amount in full plus a percentage of interest. These loans typically last anywhere from 12 to 72 months. Influences on Installment Loan Credit Report The length that […]

Paying Off an Installment Loan Early: Will It Hurt Your Credit Score?

Are you currently working to pay off a loan? If so, it’s likely an installment loan, on which you make regular monthly principle-and-interest payments. If you’ve been thinking about paying off your installment loan early, be sure to consider whether doing so can harm your credit score. The short answer is, “Yes, it can.” How […]

Payday Loan Consolidation Options

Getting a loan is one viable way to deal with your debt. But if you’ve already exhausted your credit availability, you might think you’re out of options. You’re not. Consider a payday consolidation, which typically is for a smaller sum, though you can group them from multiple lenders to pay off a more substantial balance. […]

How to Get Out of High-Interest Installment Loans

If you’re stuck in a high-interest installment loan, you’re probably tired of seeing the interest amount you pay to your lender each month. Fortunately, some borrowers have the option to lower rates—all it takes is careful planning and some proactivity. The best way to remedy a high-interest installment loan is to pay off your current […]

What to Do If You Can’t Pay Your Installment Loans

Life is full of surprises. Sometimes the unexpected occurs, which makes it challenging to pay back an installment loan promptly. Whether that is a medical emergency or catastrophic car repairs, there are a couple of approaches you can take to minimize the negative impact on your credit score. So what can you do if you […]

Installment Loans vs. Payday Loans

These days, it seems you can’t turn on the news without hearing stories about payday loans and the risks they impose. But are they as bad as the talk? And what is the difference between a payday loan and an installment loan? In this article, we’ll talk about the characteristics of payday loans versus installment […]

Secured vs. Unsecured Loans

As millions of people can attest, loans can be the building blocks to a better life. After all, most Americans can’t amass the type of disposable income it takes to finance a home, car, lifestyle, and education without taking out a loan now and again. While there are various types of loans, we want to […]

Different Types of Installment Loans

Installment loans are loans where the borrower repays the amount he or she receives in equal amounts throughout the life of the loan. Largely considered safer than payday loans, installment loans have recently grown in popularity among consumers because of their lower monthly payment options. What many people don’t realize is that installment loans have […]

Payday loans that have transitioned to installment loans

Research has shown that payday loans are often harmful to borrowers. Many are unable to pay the large lump sum due at the end, which often leads to repeat borrowing and a lifestyle of debt. Because of the potential for harm to consumers, many states have passed legislation requiring payday lenders to allow borrowers to […]

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