In this modern generation, there are even more convenient ways to be able to avail of installment loans without the hassle of faxing documents such as through applying online. Here are easy guidelines on how to avail of the no faxing installment loans.
1. First thing to do is to find an online company or choose a lender that offers installment loans.
2. Apply for their installment loan and complete filling up the online application form. Most of the online installment applications include personal details such as your name, age, contact info, employment information, address and some references. You will no longer have to fax your documents to the lender because all the information that they need will be asked in the application form.
3. After finishing the application, lenders will usually call you to confirm your application. You are required to answer and participate the confirmation phone call for them to know if you have requested for an installment loan and that all the details that you have given in the online application form are true. They will also confirm the amount of money that you want to loan and where you want the money to be wired such as Western Union.
4. Next, you should now find the closest location of the money transfer shop in your area. Do not forget to bring a valid ID and you should arrive at the money transfer shop in the designated time that the lender have instructed.
5. Upon arriving the the money transfer shop, you will need to fill up a receiver form and give to the clerk. Also, you should show your valid ID.
6. For the repayment, you should have arranged it with the lender. They can ask for your bank account for them to make withdrawals there for the repayment or they can let you repay them through the same money transferring service. Make sure that you pay on time to avoid additional fees or charges.
Where To Avail Loans For Those Who Have Bad Credit
More and more people today are applying for installment loans because of financial difficulties. Other than that, hundreds of people are now having bad credit due to their incapability of paying installment loans on time. Not paying payday loans on time will not just give people a bad credit but an increasing amount of money to be paid to the lender.
This will result to having more difficulties in paying. It will most probably be harder for people to avail of an installment loan when they have bad credit. Fortunately, there are several kinds of bad credit installment loans today and here are some of them.
1. Credit Union Loans – This is considered as the best installment loan option for those who have a bad credit. This is because unlike the bank loan, applying for credit union loans does not require collateral or a co-signer. Companies that have this type of installment loan will offer you small unsecured loans. They may also offer loans that are secured by a certificate of deposit or a savings account.
2. Bank Loans – Most local banks offer installment loans with low cost for those. However, this may require you to have a co-signer or collateral which may can be a problem in applying for the loan. Banks will usually charge an interest not more than 20% which is smaller compared to payday loan companies.
3. Mortgage Loan – This type of loan is offered by several companies to people who have any kind of credit history. They will only require you to have a proof of income, a stable job and a cash down payment. Companies who offer this loan will usually charge a down payment of 5 to 20 percent for.
4. Finance Company Loan – This is another loan which is suitable for those who are having difficulties availing an installment loan due to having a bad credit . However, you should be careful in choosing a finance company because there are some of them that will charge more than 30% of interest. Go for finance companies that will let you avail of the smallest amount of interest.
The writer, Howard Daniels, loves to blog about credits, loans and finance. He shares great insights about where to acquire loans fast and how to apply for them.