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Installment loans for bad credit: exactly what are your alternatives?

Bad credit is not a dead-end for installment loans.

Bad credit can make borrowing cash stressful, while you might have more rejections than approvals. Bad credit may also be disheartening, however it isn’t a disqualifier that is absolute installment loans. There are numerous choices when you’re installment that is seeking for bad credit, while some might have terms that aren’t ideal.

Below, we’ll address all of your choices as well as the terms you may expect, but first, we’ll look into exactly exactly exactly what qualifies as an installment loan and exactly just what bad credit is really.

Installment loans defined

Installment loans are regarding the more widespread forms of loans available. Any loan with fixed re re payment terms for the number that is fixed of or years qualifies being an installment loan. The re payments — whether month-to-month, quarterly, regular or biweekly — are the installments.