If all the above criteria applies to you then just go the financial advisor or a counselor who may suggest you further options (as required wrt the financial issue you are facing). Once decided, just apply for it. This is a fast procedure and required no paper work. This kind of loan doesn’t go for your credit history details and no verification details. All it needs is the repayment capacity of personnel. So if you are a permanent employee or you have a constant source of income you may get this loan within an hour to the duration of a day. It doesn’t require any guarantor or a signor and hence the information remains totally private. Now you could get your car repaired or renovation of your house without any issues and without affecting your financial budget too much. The loan amount which is sought in such kind of loans is minimal, if you are looking for a huge amount then this installment loan may not be appropriate solution. The repayment terms varies from 15 days to a month which may be extended to 3 months to a year in some cases. Let not be an addicted person but a wise person to put such loans to your safety and security. The loans are meant to scare away your financial urgency and not to add to your financial troubles. So invest and spend carefully!

One advantage of installment loans is that the people who have very stained credit record are also eligible for this kind of loans. It is a fact in the financial market that the lenders do not advance any kind of finance to the people who are attached with arrears, defaults, IVAs, CCJs, bankruptcies, foreclosures etc although they are in genuine need of financial support. It is good for them that credit record is not checked in installment loans.

Section C covers all the other assets that you might have whose value depends on many factors. Life insurance policies that have a cash value associated with them are included here. The amount of cash value is the “equity” as well as the difference between the current value of your other assets and the balance owed. Be as accurate as you can with these amounts as not to overstate the amounts. You might be asked to take the cash from a life insurance policy or sell your boat to pay your taxes. Of course, you do not want to understate either. The best method would be to thoroughly research your asset to obtain the correct value for the form.

There are a variety of obstacles that some consumers experience when trying to secure a loan with a traditional bank or a credit union that an installment loan will remedy. Consumers who do not have good credit are often prevented from acquiring loans because of their credit scores. Although many of these consumers are overlooked by other lenders, companies who understand that bad credit does not necessarily mean a consumer cannot be trusted to loan money to, have created lending institutions that offer a consumer a bad credit installment loan to give him or her the opportunity to obtain cash swiftly and with reasonable terms.