December 15, 2020 How to Get a Loan With an Extended Repayment Schedule

A look at the options offered with payday loans.

As the holidays approach, many people across the country are feeling the strain of financial pressure. Even with proper budgeting, it can be a challenge to make ends meet any time of the year. If you need some quick cash, payday loans are a great way to get what you need without the lengthy application process that you face when borrowing from a bank.

Payday loan companies are dedicated to helping clients during tough times. With flexible rates and several repayment options, clients can get the money they need with less stress. Getting the money that you need in just minutes can be a lifesaver.

However, what happens when you need money quickly but won’t be able to start making your repayment installments right away? Traditional lenders expect immediate repayment which just might not work for everyone. If you need a bit of time to start repaying your payday loan, talk to your lender about taking out an installment loan.

If you are feeling stressed while putting together your shopping budget, you can find payday loans near you with a quick internet search. Installment loans are the best way to get the money that you need now even if you can’t pay it back right away.

How to Apply

A payday loan can be applied for either online or in-person. Online applicants can complete a simple application and get approval in just 30 minutes and can have money in your pocket in 24 hours. Applicants that apply in person can be done with their loan application and out the door with their money the same day.

Payday lenders are perfect for anyone that is looking to get cash quickly and without hassle. There is no lengthy application or need to bring in various paperwork like when you borrow from a bank. Your application will be considered quickly and you only need to provide a small amount of information.

Installment Loans

Traditional payday loans require repayment of funds when you get your next paycheck. Although these short-term loans allow you to get emergency funds when you need them, it’s not always possible to pay back the debt right away. With an installment loan, you will have the choice of a more flexible repayment schedule.

Many lenders will allow borrowers to schedule smaller segmented payments over a number of weeks. This can make a huge difference for those that are struggling to regain their financial stability. Instead of having to pay back the full amount in one installment, you can schedule smaller, more manageable payments over a number of weeks.

The purpose of payday loans is to provide a fast and easy solution to people that are in a financial crunch. If you need money in a hurry but aren’t able to immediately pay back your debt, an installment loan may be the best choice for you. Visit a payday lender near you or online to find out about your options and get the money that you need today.

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