About Installment Loans

At ABC of Pay Day Loans, we provide online information on installment loan. An installment loan is a short-term personal loan backed by your paycheck. If you apply for an installment loan and get approved by the lender then funds are electronically deposited into your checking account. On the other hand if your payments are due then your payment will be repaid through a preauthorized electronic withdrawal process. Payment of an installment loan is typically scheduled on your next payday after your receipt of loan proceeds.

There are some questionnaires by which you can get complete information on Installment Loans.

Why do people choose installment loans?

There are certain occasions in which you may feel financial shortage for a certain period of time. You may have a good job as well as income to manage your household expenses yet sometimes you may not have that much of money to meet the expense. Installment loan can meet your unexpected needs or expense for a short-term basis.

How often can I use this service?

You may be allowed to repay the loan within 12 months from receiving loan.

How do I qualify for an installment loan?

There are very limited criteria by which you can avail an installment loan

• If you have a constant source of income
• If you are 18 years of age or older
• If you have a minimum monthly gross pay of $ 1,000.00
• You must have an active checking account in your name
• You must not a debtor
• You must not have applied for bankruptcy

How much can I borrow?

It is depending upon the applicant’s income level, state of residence and other underwriting criteria in which loan amounts can vary from $500 to $1500.