Getting an installment loan doesn’t have to be difficult, and we’re here to make things as easy as possible for you. Our goal is to connect you to a lender who can help you to access the money that you need as quickly as possible. This will help to alleviate some of the financial problems that you might be experiencing at the moment. Lots of people find it easier submitting a form for loans on our website rather than going to the bank to try and borrow a loan. We don’t require our customers to meet anybody face to face, and you don’t need to go to a physical shop or bank either.
Step 1: The online request form
The first thing you need to do is submit an online request form. This basically lets us know how much money you want to borrow. We’ll ask for your name and address and other personal details in order to screen your request properly and make sure you’re eligible for a loan. To get an installment loan, you must be at least 18 years of age. You should also have a bank account and a source of income. It doesn’t matter if your income is from an employer or you are self-employed – as long as you can prove you are receiving some sort of income, you will be considered for the loan. During this stage, you can select how much you want to borrow and the time period during which you would prefer to repay the money. Loans can be repaid within two years and you can request to borrow anything from $100 to $5000.
Step 2: The screening process
We’ll receive the information you’ve submitted and screen it to make sure everything is valid. We’ll check that you are at least 18 years old and make sure all the other criteria has been filled.When you submit information through our website, we fully encrypt your details so that it doesn’t get lost or stolen along the way. We will pass on the details to the lender so that they can contact you if they want to offer you the loan you’ve requested.
Step 3: The lender will contact you
After we’ve passed on the details you submitted in your request form, the lender will be in touch with you to let you know how much money they can offer you and the terms and conditions of the loan. While the lenders don’t usually carry out credit checks via the three major bureaus, they may check your financial history to see if you are able to pay back the money you want to borrow. If you have bad credit, you might not be able to get away with no credit checks, but it doesn’t mean you’ll instantly be disqualified from getting an installment loan. It might mean that you are offered a lower amount but you can still submit the form and see what happens. The lender may also ask you to give them more information or submit some extra paperwork. You can do this easily by sending screenshots or pre-uploaded documents, which means no faxing is involved throughout the process.
Step 4: Read over your offer
If you are offered an installment loan from the lender, you will be sent the full details of the loan along with the terms and conditions. You will be able to read how much you will owe each month, how long you’ll be paying the loan back for and how much interest you will be paying on the loan. At this point, if you’re not happy with any of the terms, you don’t need to take out the loan. You’re still able to reject the offer and either apply for a bank loan or other type of loan which you think might be better for you. If you are happy with it, however, all you need to do is sign your electronic signature on the dotted line and send the contract back to the lender.
Step 5: Wait for the money
The loan will normally be in your bank account within three business days. You could receive the money even quicker than this, as some people have reported getting the cash the same day or the day after. Once you have the money, you can spend it on whatever you like. There are no questions asked about how you’re using the money.
Step 6: Repay the loan
Of course, you are expected to repay the money you’ve borrowed according to the terms and conditions of your loan contract. If you miss a repayment, you could incur extra fees and charges. The payments will be automatically taken from your bank each month, so all you need to do is make sure that enough funds are available to be withdrawn by the lender.
One more thing..
It’s very important that you only borrow as much money as you actually need. Borrowing too much simply because you can could leave you with debt that you can’t afford to repay. While the lender will check that you have a source of income, most people have other bills and expenses that they need to pay on a monthly basis too. Having extra debt adds more stress to your life, so when you submit the request form, don’t be too ambitious and request what you need rather than the maximum you can borrow.
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