What You Need to Know About Getting Installment Loans For Bad Credit

When most people think of installment loans for bad credit, they may think their poor credit score may make them exempt from getting fast cash for their financial emergency. While that is true with traditional bank loans, loan lenders like Utah Title Loans, Inc. allow bad credit borrowers to get approved for signature installment loans despite their credit scores.

In this guide from Utah Title Loans, Inc., we will explain what bad credit installment loans are, how you can get one, and what advantages they offer to poor credit borrowers. We will also explain how you can find the right lender to avoid getting scammed by predatory lenders.

What Are Bad Credit Installment Loans?

An installment loan for bad credit is a type of unsecured loan that borrowers with poor credit scores can get approved for. A signature installment loan does not require collateral or a hard credit check, allowing borrowers with the required items to get their emergency cash with their signature.

These smaller emergency loans allow all credit-type borrowers to receive up to $1,500 to help handle urgent expenses. Anyone who can prove their income can get approved for installment loans with bad credit. In some cases, loan lenders will do a soft credit check, but a borrower’s bad credit will not affect their ability to get approved.

What Are The Advantages Of Installment Loans For Bad Credit?

Those with bad credit who get a signature installment loan can benefit from some of the advantages of this type of emergency loan. Bad credit borrowers can get approved for an installment loan to help with their financial emergency and urgent expenses. The process is also much less complicated than at a traditional bank, allowing you to pay for your unexpected costs quickly.

The following are some advantages of bad credit installment loans:

1. Lesser Credit Score Requirements

You stand virtually no chance of being approved for a loan with a bank if you have bad credit. Many banks are strict on who they lend to, and even a couple of late payments is enough to result in a rejection.

While you might undergo a soft credit check at Utah Title Loans, Inc., the credit requirements are a lot less strict than you would have at a bank. We welcome those with good credit, bad credit, or no credit. You can still get approved for a signature installment loan with poor credit.

2. Borrowing Up To $1,500 Without Collateral

Many people incorrectly believe installment loans for bad credit will only allow you to borrow small sums of cash. This is because most large loans require either good credit or collateral to protect the loan.

With Utah Title Loans, Inc., you can borrow up to $1,500. This can be enough to cover most types of emergency expenses, such as late bills, medical expenses, or home or auto repairs.

3. Only A Few Required Items

To get approved for a bad credit installment loan with Utah Title Loans, Inc., you only need a few items. This is much different from a traditional bank loan that requires you to have many documents and items to gain approval for emergency funds. With only a few items to gather, you can make the process much faster and simpler for getting approved for a signature installment loan.

The following are the required items needed for bad credit installment loan approval:

• A driver’s license or other state-issued identification
• A checking account statement from an account open in your name
• Your most recent pay stub

4. A Fast Approval Process

Head to a traditional bank, and you will be lucky to get the cash you need in under a week. Most banks take at least 14 days to process any loan applications. This isn't an option if you have expenses that need to be covered right away to avoid late fees and service disruptions.

Getting approved for a bad credit installment loan is much simpler and faster. It can take less than a day to get approved for an installment loan with bad credit. In-person portion of the approval process taking less than 30 minutes. As long as you have the required items, you can get approved to receive your cash within one business day.

5. You Can Start The Inquiry Process Online

You do not need to come to one of our Utah store locations to start the process of getting a bad credit installment loan. You can fill out our online inquiry form on our website’s homepage to start the process from your own home.

This allows you to easily start the process of getting a bad credit signature installment loan without the hassle of going to a store location.

Choosing A Reliable Loan Lender For Your Bad Credit Signature Installment Loan

A part of the process of getting a signature installment loan with bad credit is choosing the right loan lender. You need to ensure you get your bad credit loan with a lender you can trust. There are many steps you can take to ensure you are working with a reputable loan lender who will not try to scam you out of money.

The following are some tips for choosing the right bad credit installment loan lender:

• Research local loan lenders
• Read loan lender websites to see the details of their loans
• Consult Google reviews
• Speak to representatives from multiple loan lenders over the phone
• Talk to friends about loan lenders they have had good experiences with
• Get a feel for the repayment schedule and interest rates for your bad credit loan

How To Get Installment Loans For Bad Credit

A reputable lender that can help you with your financial emergency is Utah Title Loans, Inc. We are transparent in the rules for getting a signature installment loan and allow borrowers of all credit types to get approved for a loan. We also keep the process simple to help bad credit borrowers get the emergency money they need.

The following are the steps to follow to get approved for an installment loan with bad credit:

• Submit your information through our online form
• Answer a phone call from our loan associate
• Ask questions about bad credit installment loans and set up a location for an in-person meeting
• Gather your required items and head to the in-person meeting
• Have the loan representative verify your required items
• Sign loan documents
• Receive your emergency money

Contact Utah Title Loans, Inc. For Help Getting A Bad Credit Signature Installment Loan

If you need to cover emergency expenses, know that installment loans for bad credit can be an option. You don’t have to stress about the length of the process or how complicated it may be when you work with Utah Title Loans, Inc.

Fill in our inquiry form today to start the process. One of our friendly loan associates will call you to guide you through the easy approval process to help you get the emergency money you need.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.