About installment loans through PersonalMoneyStore
Installment loans allow you to schedule out payments. Get up to $6,000 from our direct lending partners now. The installment lenders we work with schedule your payments over multiple pay periods, allowing you to repay over time. This safe, secure and hassle free process gets you the cash you need right now; so don’t wait – start today.
Have bad or poor credit? Most lenders welcome people with poor credit. Online installment loans can help ease the stress of paying off bills or an unexpected emergency, by allowing you to pay back one installment period at a time. Get the funds you need today for your financial needs.
- Loans up to $6,000
- Bad credit OK and no faxing required
- Our form takes less than three minutes to complete
- Complete your loan online from the comfort of your own home
- Instant Decision
- Funds directly deposited into your bank account
- Your information is kept secure
Why Borrow through Personal Money Store?
Sometimes, we face many unexpected challenges during our life and from time to time some of those are financial. When these financial challenges happen, installment loans can be there to help. Unlike traditional banking lenders, online installment lenders generally do not require you to provide extra paperwork or require traditional credit reporting.
PersonalMoneyStore.com is your installment-lending partner and will put you in touch with several online and storefront lenders to help you get the money you need fast. Fill out our quick form and you will receive an instant decision on whether a lender is able to work with you on your loan from our installment loan direct lending partners.
What exactly is an Installment Loan?
An Installment loan is a type of loan that is repaid by regularly, scheduled payments. Online installment loans don’t require you to make a single lump-sum payment to pay off your loan. This creates a loan product that borrowers can afford since the installment payments are spread out over time. These loans are a more affordable alternative to payday loans for many borrowers.
Keep your budget in place with Installment Loans Online
Responsible lending is one of our primary concerns at Personal Money Store, so keeping your budget in mind when asking for installment loans online for any amount is important. Do not borrow more than you can pay back responsibly, and if you can’t make your payment on time, many states allow for you to make installment payment plans. That’s one less thing to worry about, but try to keep your requested loan amount reasonable so that your finances aren’t strained.
Installment loans are a short-term solution to temporary budget problems, and are no substitute for long term financial planning and management.
How Installment Loans Online Typically Work
There are only a few simple steps to get your online installment loan:
- The first step is to complete our online form. From there your information will be sent to direct lender partners.
- Next, you will receive an instant response if a lender is connected with you.
- Finally, you will work with the lender to finalize a payment schedule and electronically sign and verify your loan documents.
It’s that simple. This simplicity is why installment loans online are becoming the preferred option for many borrowers.
No Credit Check Installment Loans
There is no such thing as a no credit check installment loan. In some cases lenders will use a traditional credit check through companies like Experian, Equifax, or TransUnion. If they choose not to do a credit check through the main bureaus they will often do checks through non-traditional reporting firms that may query databases, like TeleTrack, CL Verify, FactorTrust, or DataX.
Often this non-traditional check is done to verify your identity and review your past personal loan history. While installment loans with no credit checks are history, please remember that the network of direct lenders that we work with understand that you may have poor credit or no credit and their installment loans are offered to a variety of credit situations.
Obtain Installment Loans the Same Day
Same day installment loans are available through many of the direct lenders we work with who have local storefronts. Upon acceptance of your information, simply drive to the lender’s storefront and pick up your cash or check.
If you don’t wish to drive to a storefront location, you’ll usually have funds directly deposited by the next day, though in some instances it may take a little longer.
As far as those making claims for “instant installment loans”, no loan is instant, but obtaining your loan the same day or the next business day is often possible with the ability to visit a storefront directly.
Installment Loans for Bad Credit
Having bad credit prevents a person from many kinds of loans, but you’re ok asking for a bad credit installment loan. In most cases, bad credit or even no credit does not disqualify you when processing your request, although for larger, personal loans a credit check may be performed. Requests for installment loans for bad credit for up to $6,000 can be decided instantly! You can have access to the funds quickly and easy.
Installment loans give you options
You can request an installment loan up to $6,000 through Personal Money Store. The process is quick and easy, and you could get you approved for an online installment loan in as little as three minutes.
Common Uses For a Loan
- Major Purchases
- Home Improvements
- Medical Expenses
- Special Occassion
- Maintenance & Repair
APR: The equivalent annualized percentage rate for payday loans and other short-term installment loans can have a very wide range and can vary based on the amount of the money borrowed and length of the loan. Make sure you understand all your terms and rates fully before every accepting any loans. If you were to annualize other fees in the same manner such as a returned check fee or a credit card late fee, your annual percentage could be astronomical.
Financial Implications: Short term payday loans are meant to be just that: Short term. Typical fees range from $15 to $351 for every $100 borrowed up to $500.00. (While these are typical fees, some lenders may charge more, and fees may be in addition to APR.) Fees per $100 begin dropping on loans larger than $500.00. Fees can sometimes be less than what borrowers can expect to pay for bouncing a check, having a utility disconnected, or paying a credit card bill late.
Collection Practices: Collection practices will vary from State to State and Lender to Lender. Some common methods if a loan becomes delinquent include, attempts at collections internally, primarily through telephone, an attempt to work out a pay-off arrangement that takes into strong consideration the financial condition of the borrower, and other internal attempts. Often, after all attempts at internal collections have failed, the lending agency may send the loan to a third party collection agency in an attempt to recover the funds lent in good faith, or may take other action within their legal rights. Check with your lender and your State regulations to be informed of the collection practices used by your lender.
Credit Score Impacts: Short term, payday loan lenders may rely on a credit reporting agency, and is not limited to any of the three (3) major rating agencies – Equifax, Experian, or Transunion. Generally, lenders will undertake some form of a credit check on a potential borrower, which may impact the borrower’s credit score. It may also impact the lender’s decision to extend credit. However, some lenders rely on information in addition to what is found in credit reports. The factors a lender considers when approving or denying a loan are solely in the lenders’ discretion. Moreover, the lenders decide what, if anything, to report to the credit reporting agencies. Short term lenders may also rely on their own scoring criteria, which is generally based on income and ability to repay, as well as the borrower’s payment history of any previous payday loans that have been made with the lender in question, or with other payday lenders.