Are you having a hard time making ends meet and payday is still days away? Has your car suddenly broken down? Are their major repairs in your house that need to be immediately addressed? Do you have overdue bills and have no one to turn to because of bad credit?
Then, worry no more. You can apply for payday installment loans, any time and quickly. A payday installment loan, also known as payday advance or a paycheck advance, is basically a short term loan that can help you address your instant needs and is be repaid on your next payday. Lenders of payday installment loans offer services that are easy and convenient.
Taking out payday installment loans can help you get through until your next paycheck. Generally, anybody who is working and/or possesses a verifiable of income can apply for payday installment loans. However, the rules and regulations of each payday installment loan company may vary. Typically, lenders charge a $20 standard fee on every $100 borrowed. In some cases, there are other lenders who charge more but some will charge less for a payday installment loan. So, you should check the different options and choose the one which really suits you.
Requirements for getting payday installment loans:
Generally, most lenders of payday installment loans will do a thorough check of the bank account of the borrower along with the following:
· The borrower must have a proper source of a regular income.
· His/her bank account should be in a good condition
· The borrower must supply proper proof of identification.
Different types of payday installment loans
· Bad credit payday installment loans: These loans are offered by lenders to those who are caught in a vicious cycle of debt. The companies which offer bad credit payday installment loans usually go through your credit history and interest, fees and other charges are based on this information.
· Fast payday installment loan or fast cash loan: With this type of loan, you can easily get instant cash within twelve hours after submitting your application. Fast payday installment loans let you take care of your urgent needs and other overdue bills. You can get a loan from hundred dollars to fifteen hundred dollars. However, borrow only the amount you are only able to repay.
· No fax payday installment loan: Some lenders and payday installment loan companies used to ask the borrower to fax them every type of information about themselves and their salary. Contrary to this common set-up, the “no fax payday installment loan” only requires you to be 18 years of age and possess a bank account along with a regular income. All the transactions with your payday lender will be accomplished electronically and so you get the instant cash you need in the soonest time possible.
With the advent of technology, many instant needs for cash have been addressed. The Internet has helped many cash-strapped individuals to locate lenders who understand their problems and specific cash needs. It is also suggested that borrowers do a little research and apply for payday installment loans sensibly. Pay special attention to how you are going to repay the loan at the earliest time possible to lead a stress free and happy financial life.