At one time or another, most of us have had a particularly tight month where our wage just doesn’t seem to stretch until next payday. Sometimes this just means cutting out that planned treat but at other times the position may be more serious if there’s an urgent bill to pay but payday is still some time away. That’s why express payday loans exist.
What is the best installment loans?
If you need to borrow a moderate amount of money just until you next get paid, then things can be difficult.
You may be lucky and have friends or family that can help – but that can be embarrassing.
Conventional banks and loan companies may help but there may also be paperwork and administration involved that could mean you’re waiting lengthy periods for a decision and then again to get the cash. They may also have a minimum amount that they are prepared to lend to you which may be more than you require. This means you could potentially rack up debt for money that you don’t really need.
And sometimes authorised and unauthorised overdrafts may be expensive.
Yet there is potentially another option you may wish to consider – express payday loans.
This innovative new approach means you can apply to borrow a limited amount of money for a short period of time. As they are typically smaller loans, you’ll receive a fast decision. If it’s positive, the money could be in your bank account with in a few hours (or a day or so if your bank cannot accept instant transfers).
How do I pay it back?
Nothing could be easier!
On your next or perhaps next-but-one payday, the lender will simply debit your bank account for the total loan sum plus the charges and costs you will have agreed in advance.
With most payday loan companies, you don’t actually have to remember to do anything.
Of course, extra charges may apply if you are unable to repay the loan on the agreed date.
What about bad credit histories?
Due to the smaller sums and short durations involved, typically the lenders will only perform a limited credit check.
If you do have a particularly bad credit history then your application may be refused but typically these lenders are more tolerant of credit issues than is the case with other forms of loan application. Of course, as with most types of lending, no one is guaranteed to be accepted for a fast cash loan.
Installment loans up to $3000 dollars may be useful to you in a crisis even with bad credit. It may be worth finding out more.