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Long Term Installment Loans No Credit Check Direct Lenders
When you’re desperate for cash, going to direct lenders is often the best choice. These companies will be able to make a decision right then and there and often will credit your account with the amount you need within the hour.
That means that you can go online, enter your details and then have the money immediately to spend.
But for true convenience, flexibility and the best benefits for your long-term finances, the loans you’re searching for should be long term instalment loans with no credit check from direct lenders. Just what does all that mean though?
Long Term Instalment Loans
You’ve probably seen ads on TV for payday loans. These are loans that you can get deposited immediately into your account with no need for a credit check and with no need to have a lengthy discussion with a bank. The loans are short-term, small amounts with high APR. That APR doesn’t matter though because you’ll pay off the whole thing in one go after just a short amount of time.
But what if you need a little more? Or you need to borrow it for longer?
Long term instalment loans will do just that but without going into full-blown ‘bank loan’ territory. This is a relatively small loan, with around 50% APR, paid back in a few instalments. It’s ideal because it’s more flexible than a payday loan while still being quickly and easily accessible.
No Credit Check
When you take out a smaller loan with high APR – as with a payday loan or instalment loan – you often won’t need to go through the usual formal credit check. That’s because the loan will be relatively low-risk for the lender and that means they can open their doors to everyone. This is also the benefit of going to direct lenders – as they can make the judgement themselves.
If you’ve been turned down for bank loans then, you can use long term instalment loans as an alternative that will be the next closest thing.
But there’s another benefit too – because the loan is paid in instalments, this gives you the chance to demonstrate your ability to repay on time. In turn, that means that you can actually improve your credit rating gradually, meaning you’ll be more likely to be approved for future loans that you apply for.
So by looking for long term instalment loans with no credit check from direct lenders, you’ll able to get an immediate loan that will
be highly flexible and paid off in a series of instalments. You’ll be able to get approved for it even if your credit score is very poor and you’ll receive it in your bank in minutes. Best of all, you’ll be improving your record so that you’ll have more to choose from next time.
For all these reasons, this is one of the most flexible solutions for anyone who needs a fast cash injection and has had trouble getting it from elsewhere.