Installment Loans For Bad Credit Borrowers

Don’t let a low credit score hold you back. With ASCIN Payday Loans, you can apply and receive a guaranteed installment loan online today!

Guaranteed Installment Loans for Bad Credit Online

If you face an emergency, you can’t wait and need to act as soon as possible. Borrowing money from your family or friends is often impossible, and getting a loan from a bank or credit union takes too long. Furthermore, people often don’t meet the requirements of these financial institutions. 

In such situations, guaranteed installment loans for bad credit from online lenders can save your day. Apply now and get an instant approval decision!

How Do Installment Loans Work?

Installment loans are loans you borrow in one lump sum and return in fixed monthly payments. The loan term generally takes from 2 to 24 months. You return funds with the interest rate specified in the loan contract. 

Types of Installment Loans

You can borrow different forms of online installment loans depending on your purpose. The most common types of the loan are:

Personal loans. Personal installment loans are the broadest form of an installment loan. You can borrow them for different purposes: from paying medical bills to covering utilities costs.
Mortgages. A mortgage is a secured loan for buying property. In this installment loan form, the property you buy is collateral.
Debt consolidation loans. You can apply for this personal loan to get money to repay your previous debts. For example, a loan allows you to make a credit card debt consolidation.
Home equity loans. A home equity loan enables borrowers to get money for different purposes using their home equity as collateral.
Federal student loans. These unsecured loans are also known as government loans. Students apply for them to pay for their education in college and return after graduation.
Bad credit loans. Such loans are an excellent option for borrowers with bad credit to get extra cash. It can be both unsecured or secured personal loans depending on the lender.
Auto loans. Auto loans are secured loans for buying a car. In such loans, a vehicle is a collateral.

Where Can I Get an Installment Loan?

There are many options for taking a personal installment loan. You can choose between financial institutions such as banks, federal credit unions, and online lenders. Your choice will depend on your credit score, lender’s interest rates, repayment terms, and other loan providers’ conditions. Compare lenders and their offers to find the most suitable option.

Benefits of Payday Loans


The cheapest way to borrow an installment personal loan is to get money from a bank. Traditional banks offer many unsecured personal loans, but a borrower needs to have a good credit score to apply for them.

Benefits of Payday Loans

Credit union

A credit union is an excellent way to get an installment loan with a relatively low APR. It is generally around 18%. However, to apply through a credit union, you need to be a financial institution member.

Benefits of Payday Loans

Online lenders

If you don’t have good credit and other financial institutions’ requirements are unsuitable, consider borrowing money from online lenders. At ASCIN Payday Loans, you can get personal installment loan approval even with a low credit score.

How to Apply for Installment Loans Online?

You can apply for an installment loan quickly at ASCIN Payday Loans. The loan process includes four simple steps:

Step 1:

You fill out an online application form

Find a loan request form on our website and write your personal details and bank account information there. Then, apply and get a guaranteed loan decision almost immediately!

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Step 2:

We send your loan application to multiple lenders

We get your request and connect you with reliable direct lenders. A loan provider will contact you after your application is approved.

Step 3:

You sign a loan agreement

The lender sends an installment loan contract to you. Read all the lender’s conditions and the loan terms carefully and sign the contract if you agree.

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Step 4:

You get loan funds

The direct lender transfers cash directly to your bank account. The cash advance will be credited the same or the next working day. Then, you need to repay the loan in equal monthly installments.

Do Installment Loans for Bad Credit Affect Your Credit Score?

Banks and credit unions generally report to major credit bureaus (Equifax, Experian, TransUnion). They search your credit report to see if you have had late or missed payments or other defaults. A hard credit inquiry by traditional financial institutions hurts your credit score.

At the same time, bad credit direct lenders have minimum loan requirements. They focus on your ability to repay loan amounts. They conduct soft pulls that do not affect your credit score. Therefore, you can apply for an installment loan even with poor credit.

Installment Loans Vs. Payday Loans

A payday loan is an alternative way to borrow cash with a poor credit score. It is similar to installment loans, and the two options approve bad credit borrowers and allow customers to get cash quickly.

However, there are significant differences between installment and payday loans:

Loan terms

Installment loans are long-term cash advances. People generally take them for 2-24 months and repay debts in affordable monthly payments. On the other hand, payday loans are borrowed for the short term and must be returned by the borrower’s next paycheck.

Loan amounts

You can apply for a payday loan if you need to borrow a small amount of up to $1000. Installment loans are suitable for higher costs, up to $5,000.

Interest rate

Payday loans are one of the most expensive loan forms, with an APR of nearly 400%. Installment loans are significantly cheaper, and their interest varies from 16% to 100%.

Credit score

Installment loans affect your credit history because most lenders perform hard credit checks. Payday loan providers don’t send your account details to the main credit reporting agencies, so such cash advances don’t affect borrowers’ credit scores.

Bad Credit Installment Loans

You can still apply for online installment loans with a fair credit score. At ASCIN Payday Loans, every borrower will find a suitable loan offer for themselves. The company connects you with truthful direct lenders, which don’t matter your credit history. Instead, online lenders pay attention to your ability to repay the loan.

In addition, lenders consider your debt-to-income ratio to make a loan decision. Calculating your DTI can increase your chance of being approved for the best installment loans. Divide your monthly debt payment by your gross monthly income and see how manageable you are to return your debt.

Benefits of Personal Installment Loans

Installment loans can be the right solution to your financial problems. They have many advantages over other loan types.

Quick application process. You can apply for an online installment loan at ASCIN Payday Loans within minutes. Enter your personal information and bank account details and submit the request.
Low-interest rates. Installment loans have lower interest rates than other cash advance options, which makes them more lucrative for borrowers. Their APR varies from 16% to 100%.
Available with bad credit. Installment loan lenders offer several options for borrowers with poor credit scores. Your application will be approved if you can make a regular loan payment.
Convenient repayment. Installment loans have convenient terms. You don’t need to return the sum by your next payday. Instead, your repayment period takes from 2 to 24 months.

Eligibility Criteria for Guaranteed Installment Loans for Bad Credit

Online personal loans are available for almost all Americans regardless of bad credit scores. To borrow money from installment loan lenders, you need to meet the following eligibility requirements:

Be 18 years of age or older;
Have an active checking account;
Be a U.S. citizen or permanent resident;
Have a phone number and email;
Have a stable source of income.

These criteria may differ depending on the region, so check your state’s regulations before applying for a loan.


Get an installment loan for bad credit

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