subject: Installment Payday Loans: Easy Cash For Urgency [print this page] Installment payday loans are meant for the employed people who need cash for urgency and want to return the borrowed cash in weekly installments so that their next paycheque is not under much stress. These loans are provided without many queries and credit checks once you have proved your employment status. The loan amount is electronically deposited in your bank checking account in the same day.
However, you have to prove that you are getting regular monthly paycheque for past at least six months and have a bank checking account in your name. Some lenders give the cash against a post-dated cheque from the borrowers. You are also required to fax documents that prove your employment and residential address.
Installment payday loans fetch you a smaller amount ranging from 100 to 1500 for a short-term of two weeks, until your next payday. So, you can return the loan on next payday through paycheque. However, you can explore the rollover option also if you want to take more time. You are given the option of repaying the cash in weekly installments for up to a month and more.
Even if you are carrying a bad credit history of payment defaults and late payments or CCJs, you are allowed to borrow the cash without the lenders making any credit checks on you. Thus, these are ideal loans for the people with bad credit rating.
Installment payday loans carry a high APR on smaller cash amount for a short period. So, your next paycheque will be under stress of repayment. Thus, you are advised to borrow only when urgencies strike and borrow a smaller amount that is not burdensome to repay from next paycheque.
Explore online lenders for the competitive rates so that your repayment burden is not much. You should rollover the loan only when it is absolutely necessary to do so. Make sure to repay installment payday loans on the due date to avoid falling in debts.
by: Ashley P
welcome to Insurances.net (https://www.insurances.net)
