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Why Choose Installment Loans?

Each year thousands of people in America struggle financially because of dozens of different reasons. Maybe they faced an emergency medical bill or home repair or maybe they were laid off and had to take a lower paying job elsewhere. No matter the reason, no one ever wants to face financial hardship – unfortunately it just happens. The good news is that there are options out there today that can help people who are struggling. One option that has become increasingly more popular is called installment loans. Installment loans are beneficial because they can be paid off in several monthly installments instead of just one lump sum. This is a huge help to people who really need to stay within a certain budget each month. Here at purplepayday.loan we want to help you fend off the financial issues you are dealing with by helping you obtain an installment loan.

Do You Qualify for Installment Loans Online?

Another benefit of payday installment loans is that they are extremely easy to qualify for. Here is a list of criteria that typically needs to be met in order to be approved for an installment loan:

 

  • Age – In order to be approved for an installment loan you must be 25 years or older.
  • Employment – You must show proof of employment to be qualified for an installment loan. This can usually be done by showing recent pay stubs.
  • Bank Account – All online installment loans are transferred to you electronically so you must have a bank account capable of receiving direct deposits in order to be approved for installment payday loans.
  • Income – Just like any other financial lender, an installment loan lender wants to make sure that the recipient of the loan can pay it back – for this reason a qualified applicant must have a minimum monthly income of $1300.

If you meet these four qualifications there is a good chance that you will be approved for an installment loan. If this sounds like something you’d like to learn more about feel free to call our toll free number today or fill out our simple online application right here at purplepayday.loan.

How do Online Installment Loans Work?

The process for obtaining an online installment loan is simple. That’s how we at purplepayday.loan want it to be. We know that money troubles are stressful and we don’t want our process to add to that in any way. The first step of the timeline starts out with our online application. It’s an easy and fast application that will ask you to submit information about yourself, your job, and your bank account. Once you’ve submitted the application it is instantly sent to one of our installment loan lenders so that they can review it to determine whether or not you qualify. If they determine that you do qualify then you are approved and will be able to move forward with the next step of the process: signing your loan documents. The documentation will be sent to you via email so that you have all the time you need to review it before signing and sending it back. The paperwork will include important information about your specific loan such as the amount and the repayment schedule. You will want to make sure that you understand this paperwork before signing it and sending it back to the installment loan lender. After you have reviewed the documents and returned them all to the lender your loan funds will hit your bank account within just a couple of business days. If this process sounds like it would benefit you and you would like to get started just fill out the online application at purplepayday.loan today to get the ball rolling!

Do Installment Loans for Bad Credit Exist?

The short answer to this question is “yes”! You may have noticed earlier that a credit check is not a part of the qualifying criteria for an installment loan. This isn’t a mistake – a person with bad credit, no credit, or even a past bankruptcy can still qualify and be approved for installment loans. Don’t let your financial past hold you back from finding the help you need in the present. Purplepaydayloans.com can help you find a wonderful installment loan lender that will work with you to get an amount you need to get through a stressful financial time. Call our toll free number to speak with a representative or start the process on your own by filling out our online application today!