An installment loan is a cash advance which you can borrow and then pay back over several months. They range from $100 to $5,000, and often require no collateral. Each installment loan may vary depending on how much you borrow and the time period during which you wish to pay it back.
There is a quick online request form that you can use on vumloans.com. Fill out the details required and we’ll try our best to connect you to a lender who can loan you the cash you need.
In order to take out an installment loan, you must be at least 18 years of age. According to US law, you must be an adult of 18 years of age before taking out any form of loan, which is why we must implement these rules.
Unfortunately, none of the lenders will be able to loan you the money you want if you don’t have a bank account. You can open a bank account and then submit the request form for a loan if you want. A bank account is needed since there is nowhere to deposit the money or take the repayments otherwise.
Yes, you need a valid source of income if you want to get an installment loan. This doesn’t necessarily have to be employment – you can be self employed or in some cases in receipt of state benefits. If you’re not sure, it won’t do any harm to submit a request form and see if you are approved.
You should be aware of companies which offer ‘no credit check’ payday loans, since the vast majority of lenders will carry out a credit check of some sort. While they might not use one of the large three credit check bureaus, they will take a quick look at your financial history.
Just because you have a bad credit score doesn’t mean that you definitely won’t be able to take out an installment loan. In fact, you still have a good chance of being approved for a loan even if you have a very poor credit score. If you are working now and have a source of income, the lender is very likely to believe that you are financially able to pay back the money you borrow, which is the most important thing.
If you miss a repayment or you cannot pay back the money you have borrowed, get in touch with the lender directly to let them know the situation. In some cases, they may be able to extend your loan in order to give you more time to pay the money off. However, you are likely to incur extra charges and fees.
If you’re approved for the loan, the lender will send you full terms and conditions in a loan agreement. You will need to sign this electronically and send it back to the lender before they will deposit any money into your bank account.
In some cases, you might get the money within the same day. For others, they could receive the money within 24 hours. You should expect to wait around three business days before the money comes into your bank account, and if it arrives sooner, that’s a bonus!
Installment loans range from $100 to $5000, and you should always borrow what you can afford rather than what you want. The larger the loan, the more money you will have to pay back and the more interest it will accrue, so think about the amount you need and submit a request for that.
If you fail to repay the loan, your credit rating could get worse, much like any other loan. However, if you have bad credit but repay the loan on time according to your loan agreement, it could make a positive change to your credit score.
When you submit your personal details through our online request form, we will encrypt it so that it cannot get stolen as it is being passed from our system to the lender.
If anything unexpected happens, contact the lender directly as soon as possible and they will try to sort out a payment plan for you. Of course, it’s important to remember that they are not obligated to change any part of your loan, since you’ve signed a contract and agreed to all the terms.
Yes. Contact the lender and tell them that you want to repay the outstanding balance early. You can also repay more than the minimum amount per month, but you’ll need to arrange this first with your lender.
What do I need to have to get an installment loan?
– You don’t have to wait around in long queues like you would at the bank. – You can fill out our easy online request form at a time and in a place which suits you, not during the bank’s opening hours or when a loan shop is open for business. Whether you want to […]
August 14, 2017
So how can I get a loan?
The first step is to fill out the online request form on vumloans website. You should be prepared to submit details such as your full name and address, bank details and employment status. The lender may also ask you for extra details and documents once your information has been passed on. We won’t sell your […]
August 14, 2017
What You Get
Let’s imagine a scenario in which you desperately need extra money in your bank account. Maybe you need to put a deposit down on a car or important kitchen appliance, or perhaps you want to book a great vacation deal before it runs out. Installment loans are generally up to $5000, so you can request […]
July 14, 2017