U.S. Installment Loans Review: Most Reliable Credit Broker Service in the Market
By Space Coast Daily // November 25, 2022
For anyone that may be budgeting their way through their finances, it can often prove to be extremely difficult to deal with a poorly-timed financial emergency.
In such situations, being able to find a reliable lender with a reasonable interest rate as well as an accommodating repayment schedule can often sound like an impossible task.
However, the good news is that there are thousands of online platforms that can allow you to access hassle-free online loans almost instantly, even if you happen to have a bad credit score.
US Installment Loans is one of them, as you can get installment loans online using their online broker service that connects borrowers to direct lenders who are willing to offer loans from $100 to $35,000.
The application process is completely handled online, and applicants are able to receive their funds within the same day of approval.
How Does US Installment Loans Work?
US Installment Loans has an extensive lending network that connects borrowers to a wide range of loan providers, thereby sparing them a lot of effort and time. In other words, the company acts as a mediator, and one of the benefits of the platform is that it also makes it easy for those with a bad credit history to still access funding without much difficulty.
To get loans for bad credit from US Installment Loans, borrowers will be required to submit some of their personal and financial details, such as their names, contact information, employment background, credit details, etc.
You will also need to input the amount of money you would like to borrow, and once the pre-approval form is submitted, you can expect a fast decision on your application.
If approved, you will be presented with a list of potential loan offers from their panel of lenders, which you can compare for rates and terms in order to find the one that best suits your financial situation.
Once you accept an offer and e-sign the loan agreement, the lender will typically transfer the agreed-upon amount within 24 hours.
How Can US Installment Loans Help Me?
The platform can connect you to a wide range of direct lenders who will be able to provide you with an extensive range of loan products to choose from. Some of these include;
Quick Loans: As the name suggests, these loans can typically be accessed shortly after you submit your application, making them an ideal option for dealing with urgent financial emergencies.
Payday Loans: These are a highly popular type of short-term loan, as they are generally designed to provide borrowers with a quick cash boost until their next paycheck arrives. As such, they are normally small in sum, which means that they are best suited for small financial expenses.
Installment Loans: This is another finance option that is the specialty of US Installment Loans, where borrowers can access funding that is repayable over a series of payments within a set period. These are a good choice for those looking to access larger amounts of money as well as avoid the high-interest rates that are synonymous with payday loans.
Bad Credit Loans: These loans are specifically catered to those with a bad credit score, as they typically come with less stringent conditions than most other loans. And this is because most lenders will take other factors besides one’s credit score into consideration when determining if the borrower qualifies for funding.
The only downside is that they often come with extremely high-interest rates due to the increased risk to the lender.
What Eligibility Requirements Must I Meet To Get A Loan Via US Installment Loans?
It is important to keep in mind that US Installment Loans is a credit broker, which means that it does not set the criteria for its lenders, as they each have their own requirements. However, the standard requirements that are expected of all borrowers looking to submit a loan application on this platform include;
■ They must be at least 18 years old.
■They must be a citizen and permanent residents of the US.
■They must have a stable monthly income stream.
■They must have an active bank account.
What Are The Pros and Cons Of Using US Installment Loans?
Pros
#1. No Hard Credit Checks
If you happen to have a bad credit score, it is often extremely difficult to secure a loan from a conventional lender like a bank, most of whom will often carry out a hard credit check.
However, the benefit of US Installment Loans is that their lending network also accepts borrowers with bad credit, and they only ever conduct soft credit checks, so you don’t have to worry about it affecting or appearing on your credit report.
#2. High-end data encryption
When it comes to applying for a loan online, there is often a ton of private and financial information that you will need to submit, such as your name, contact details, address, bank account numbers, etc.
As such, it is important that the platform you utilize is extremely responsible and takes the necessary measures to ensure that your data remains safe. Luckily, US Instalment Loans utilizes high-end website encryption to ensure that your private information remains inaccessible to any unauthorized parties.
#3. Compare multiple loan options
US Installment Loan’s lending network is so extensive that borrowers will not have to wait very long to find a compatible quote. With one loan request, borrowers can get as many as fifty quotes from multiple lenders, which allows them to compare multiple offers and find the one that offers them the best deal possible.
#4. Fast loan processing
If you are looking to access funds to deal with an emergency, then chances are you need a loan service that can facilitate the cash you need in a hurry.
In this respect, US Installment Loans has partnered with its lending network to ensure that borrowers are able to access the money they borrow in as little as 24 hours. Plus, there is also a very minimal amount of paperwork needed, which speeds up the application process significantly compared to traditional loan providers like banks.
Cons
#1. Not a direct lender
The downside of using US Installment Loans is the fact that the company is not a direct lender but rather a credit broker. This means that they only connect you with prospective loan providers, so there is no guarantee that you will be approved for a loan.
#2. May have to pay extra fees
Despite the fact that US Installment Loans does not charge its users anything to use their service, there is still a high chance that the lender you are matched with may still end up charging you extra fees, e.g., origination fees.
Conclusion
It’s safe to say that US Installment Loans is one of the most reliable and secure places that you could ever hope to get a loan online. It is especially commendable how transparent they keep their entire operation, as everything remains clear with little to no confusion.
The site is also easy enough to navigate and it remains completely accessible to bad credit score holders, as well. All in all, it’s an absolute yes for US Installment Loans.
