Put yourself in the shoes of someone in a desperate financial situation (if you’re not in that role already). You need money fast, perhaps for a car repair or a medical bill, but your paycheck won’t arrive until the end of the month. Asking a friend or family member for help is impossible or simply uncomfortable. And with your atrocious or nonexistent credit score, securing a credit card or certain types of loans is inconceivable. What can you do? To whom can you turn? Direct lenders for installment loans may be the ideal solution.
Direct Lenders for Installment Loans
What are direct lenders for installment loans?
An installment loan is a loan in which the money borrowed is repaid over time with a set number of scheduled payments. The length of the loan varies, from a few short weeks to several decades. To qualify, you won’t need a flawless credit score or a down payment. In fact, all you need is proof of a steady income and a bank account. Plus, if you pay off the entire loan at once, you won’t have any further fees. Using a direct lender for an installment loan makes this an especially apt solution to your financial woes, because you won’t have to deal with a frustrating middleman. Instead, you will work directly with the lender at each stage of the process.
Why use a direct lender?
Although we’ve already briefly explained why a direct lender is the way to go if you want an installment loan, let’s dig a little deeper. What makes a direct lender so ideal? Why should you avoid any lenders who are not direct lenders for installment loans?
First, it’s important to understand the alternative: affiliates. When you apply for a loan with an affiliate, they will farm your information out to dozens (or even hundreds) of lenders. The lenders they proposition will then contact you, offering their terms and trying to persuade you to choose their loan. Your phone will likely ring off the hook, your e-mail inbox will be flooded with offers, and you will undoubtedly become frustrated. Luckily, there is an easier way . . .
Direct lenders work directly with their borrowers. When you apply to a direct lender, your information will remain secure with them (assuming you’ve chosen a reputable lender, of course). The lender will accept your application, consider the provided information, and then accept or deny your request. The turnaround time is often very quick (choose an instant lender if this is important to you), and the process will likely be cheaper because you’ve eliminated the middleman.
So why wouldn’t you choose a direct lender for your installment loan? Frankly, we don’t know! No matter which way you spin it, unless you relish the idea of being harassed by persistent lenders, a direct lender is always preferable.
When you’re ready to apply for an installment loan, check out Advance Paycheck Online. We are a direct lending company offering short-term advances and online installment loans to the residents of three states: Illinois, Utah and Wisconsin. Our flexible payment schedules will help you pay off your loan as soon as possible, and we prorate the fees involved so that if you pay off the loan early, you will have very few fees to pay. To get started, please contact us online or give us a call at 1-815-436-4242. We would be happy to help!