What Are Installment Loans and Can They Help with Bills?Installment loans are just one type of the many useful loans offered by online payday lender services. And yes, they can definitely help with bills when you’re short on cash. Any time is a good time to check out these simple yet flexible loans. Go online or use a mobile app to apply now, but keep reading to find out the answers to all your questions first.
Installment Loans Online Are Payday Loans
Essentially, these loans are payday loans. If you have ever gone online to get a payday loan, you already know a lot about them. You apply online, get matched to a great lender, get approved in minutes, and have the cash transferred to your account within 24 hours or less in many instances. You can then use the cash from your installment loan to pay the bills or for any other purpose.
How Installments Differ from Standard Payday Loans
What makes installment loans a little different from the payday loan you may have used in the past is repayment. With most payday loans you pay what you owe in full, often on your next payday. Or, you can roll that payment over until you get your next paycheck in the bank if necessary. With installment loans your repayment is done in smaller amounts and over a longer period of time. You get the payment plan with the terms of the loan and agree to make these small, installment payments over a few weeks or months, depending on the lender and the amount you borrowed.
Need Help with Bills?
Installment loans are great for getting help with paying the bills because they provide quick cash and a fast, easy process for applying and getting approved. So why not just use a standard payday loan when you need help with bills this week? You certainly can, but the reason you may turn to installment loans is if you aren’t sure you’ll be able to make fully repayment of the amount you borrow on your next payday. If you can’t, you’ll have to roll over the loan, which costs you more money. If you can plan ahead and realize you won’t be able to make that full repayment, an installment loan may be a smarter option.
Pay the Bills Tomorrow with Installment Loans
By far, the best thing about installment loans for most people who apply, people who work hard but sometimes struggle with money, is that they allow you to get help with bills almost immediately. When you have bills that need paying in the next day or two, but your next paycheck won’t be in for days or a week, you need a better solution. Installment loans and standard payday loans both provide quick, easy, and small amounts of cash that help you pay the bills as soon as the next morning after submitting the application. Check these loans out today, online or with the mobile app, and get that help with the bills that will save your week.