Installment Loan with No Typical Credit Check
Now you can get an installment loan with no typical credit check. Loan terms customarily grant multiple months to repay the personal loan. Equal monthly payments with no faxing and the money can be sent direct to your bank. We have a vast network of lenders that are very successful at getting people approved regardless of their financial history.
Why choose Installment Loans Over Payday Advances?
Installment loans give you a longer period to repay the funds, up to 12 months. Payday loans are due on your next payday, in full. The application takes a few minutes and then you will know if you have been matched with a direct lending institution. There will be no affect on your FICO score with the 3 credit bureaus because our lenders do not check your typical FICO score. If authorized the direct deposit loan will be sent straight to your account.
Personal Installment Loans | Competitive Terms
Many people choose small installment loans over a payday loan because they have a determined monthly payment schedule and will not auto renew every time you make a payment. Most payments allow for several months to complete repayments. You have a predetermined payment schedule that does not change as long as your make the scheduled payments. No collateral required. Monthly payment loans can contribute to reduce perpetuation of the debt cycle.
Will my payments change month to month?
You payments do not change each month. They are a fixed amount each month and with a fixed number of payments. Your borrowing ability is based on many factors covered in the application. Get an unsecured loan with bad credit deposited to your bank account by the next business day. Most lenders now use an Automated Clearing House (ACH) process and no longer wire money.
Is it possible to get an installment loan with no check check?
It is very unlikely you will find an online lender that will give you a loan with no credit check. All lenders do some form of credit check. They need to do their due diligence to assure their money is as low risk as possible.
What is a Typical Credit Check?
A typical credit check is generally pulled by a financial institution that is evaluating a lending decision. Most often this type of check will occur when applying for a mortgage or credit card. This type of check can lower your FICO score for a period of time. Simply because if lots of institutions are running credit checks, it means someone could be accumulating a lot of debt in a short amount of time. These inquiries will drop off your report in time. Something to be mindful of, if you are applying for numerous credit cards or running other hard credit checks.
What is a Soft Credit Check?
Soft credit checks are typically ran by employers or even by yourself when checking your own score. These soft checks do not harm your FICO score. Also you may see this report when applying to rent an apartment or signing up for a new phone. A soft credit check lenders can offer you small personal loans that may otherwise be impossible going through a traditional bank or credit union.
Look for unsecured loan options that fit you
Many lenders offer a loan with no typical credit check which is fine. This just means it does not affect your FICO score and is not with the big 3 reporting bureaus. Use your head when searching the internet for online lenders. It is easy to avoid trouble if you pay attention to the red flags. Payday lenders and personal finance companies will look at your ability to repay and all loan decisions reflect the individual opinion of the direct lenders, not WireLend.
How Do I Benefit From a Small Monthly Installment Loan?
Payment plans provide a way for someone to budget their money and their monthly income. Our lenders generally offer terms from 3 to 12 months. Each payment consists of principal and interest. The interest portion is largest at the beginning of the loan and steadily goes down and payments are made and the principal decreases.
Unlike a title loans where you have to use the title to your vehicle as collateral, the installment loans with our lenders do not require collateral, they are unsecured. You know exactly what your payment will be each month and exactly when your financing will be paid off, if you stick to the loan terms and schedule.
So How Does the Online Installment Loan Process Work?
Complete the application by clicking the "Apply Now" button above. Once you complete the application you will receive either a loan agreement from one of our lenders or you will receive a page stating we were unable to match you with a lender at this time. The application is free, you will not be charged. If you receive an installment loan offer with equal monthly payments from a lender then you have the option to review it and can decide if it is right for you.
You can then choose to accept of decline the offer. If you decline the offer then your application is done and no further action is required. If you choose to accept the finance offer, then all terms and agreements are between you and that lender. All questions should be directed to them at this point. In most cases you will have several months to repay the funds. If you find yourself in an emergency and need a short term loan or just need to make a quick purchase, WireLend helps people cover their needs everyday.
- Complete the application
- You might immediately receive a loan offer
- Choose to accept or decline the loan offer
- If you accept funds can be in your account by the next day
How are installment loans payments calculated?
Installment loan payments are calculated by taking a fixed monthly payment that is amortized and includes principal and interest on each payment. The principal is paid down with each payment and the interest portion of the payment is also reduces each payment because the principal owed is reduced each month.
How and When Do I Get the Money?
Funds are sent direct to your bank account. So in order to qualify you will need an open and active checking account. This is the reason banking information is a required field on the application. Because the money is sent from our lenders account to your, the money can only be sent on normal banking days. So if you are approved on a holiday or a weekend you will not see the money in your account until the next banking day.
Many online lenders will drag you along and require more information or documentation at each step along the way. That is not fair to you and that is why we setup one simple application.
What is the interest rate on an installment loan?
The interest rate varies between the different lenders in our network. We are not able to quote you an Annual Percentage Rage (APR) because we are not a lender. If you complete the application and are coordinated with a lender, they will send you a loan agreement that will have all the information regarding interest rates and time frames. Please read all documents carefully before committing.
Are little installment loans good for your credit?
Installment loans can be extremely good for your credit, as long as you make the payments on time and pay off the loan by the original due date. Not all lenders report to the credit companies so you will want to specify with your lender if they will be reporting your payments. If you are in rebuilding mode then you should seriously look at installment loans that report to the 3 credit bureaus.
I am stuck in a cycle of debt, what do I do?
If you find yourself bewildered in a debt cycle you should immediately explore and investigate options to end your debt cycle. Here are few helpful websites:
Small unsecured loans with equal monthly payments can really help people budget their financial needs and obligations. Each payment consists of principal and interest allowing you to reduce the balance on the loan every month, each time you make a payment. Regardless of your financial history we still want to try and help you get approved.