Nowadays, you can get an installment loan in the USA, regardless of your bad credit history. However, it was indeed a bit harder to get an installment loan while you have bad credit.
No one ever wishes to get themselves in a pit of bad credit scores. But because of the challenging moments, the majority have chosen to stay with the bad credit histories. It has come a moment when you have to choose between basic needs and making your credit score look good. Unfortunately, the challenging economic moments have nothing good to offer, especially during the pandemic.
However, installment loan lenders understand your concerns, and they are more than willing to help you cross the bridge. Of course, that is good news, considering how frustrating it can be to get a loan with a bad credit score.
I will show you how and where you can get an installment loan when you have a bad credit score. Then you have a chance of not giving up on your goals.
Bad credit installments in the USA
1. Heart Paydays
Heart Paydays is a lending platform where you can get a bad credit installment loan in the USA. In addition, you can rebuild your credit as you take and repay the loans on the platform.
The application process on Fair Finance is easy and convenient. The installment loan at Heart Paydaysconducts an electronic identity, some credit checks, and your bank statements.
Conducting a credit check doesn’t mean that they’ll disqualify you. Instead, it means that the lenders want to know your affordability. But they don’t tie you to your bad past. Instead, they believe that you can repay the loan they give you. In addition, if you have no credit history at all, they will also give you a loan.
The direct lender offers installment loans of up to £3000 and repays in a maximum of 18months. The APRs are 189% and a fixed one-off administration fee of 6%. Once they approve your installment loan, the funds will be in your account within 24 hours.
2. SimpleFast loans
On this platform, you can get an installment loan with bad credit in the USA. The loan ranges from £250 up to £2000, and you can repay in 24 months. The monthly interest rate is 9.3% and an APR of 770%.
Once the lender approves your loan, you will get it to your bank account within 15 minutes. Having a poor credit history should not make you worry. They have you in mind, and the SimpleFastloans is willing to help.
LightFinance is yet another bad credit installment loan lender that can help you in the USA. You can get a quick loan from £100 to £10,000 while making all applications online by filling a simple form. There are no initial establishment fees.
After they approve your loan, you will get a decision within 60 minutes and get your funds within 24 hours. The APR can go up to 1294%, so you better think again before you apply for an installment loan here. You are free to make comparisons across different platforms and chose that fits your budget.
4. DotDot Loans
This platform can give you a bad credit installment loan provided you are a USA-based borrower. After applying for the loan, you can spread the installments between 3 and 48 months.
After approval, the platform will find your loan within one hour. In addition, DotDot Loans services are always available 24/7. Short-term loans on this lender have an APR of 824.7%, while long-term loans have 79.4%.
5. Viva Payday Loans
Viva Payday loan is a platform in the USA that will give you a bad credit installment loan once you are a USA citizen. You can apply for a loan from £500 to £1000 with an APR of 611.74%. However, the lender requires you to repay the loan in installments from 3 to 12 months.
The platform considers those with bad credit scores. However, they don’t judge you with your past. Instead, they believe you can still make it to be a better person.
In most cases, these online loans charge considerable interest and some other charges such as establishment fees. Therefore, you should only take out those loans if you have no other credible options.
However, ensure that you take what you can chew. For example, do not take a loan to do things that could wait until you get money. Also, endure that you find other ways to supplement your paycheck, and it will be possible to stay out of debt.