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      May 30, 2017

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Best

Installment Loans

  1. SoFi
  2. Lending Tree
  3. Upstart
  4. 100 Lenders
  5. Net Credit
  6. One Main Financial
  7. Personal Loans
  8. Max Lend

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Installment Loans Better Business Bureau Reliability Seal

Get an Installment Loan with Lending Club Today! Medical bills, unexpected car repairs, layoffs and more - does any of this ring a bell? There are lots of reasons why many people find themselves strapped for cash. What can you do if your income just isnít enough to make ends meet and you need money?

If you have a financially-comfortable friend or relative, you could put yourself through the embarrassment of asking them for a loan - which would be better than paying the extremely high interest rates associated with most credit cards or payday loans. Another option is to consider an installment loan.

Continue reading below reviews

2017

Installment Loan Reviews

5 stars
Lending Club

LENDING CLUBTopConsumerReviews.com Best-In-Class Blue Ribbon Award

When it comes to social lending, Lending Club sets the standard for loans that go outside of the more common lender-based companies. Their track record for arranging installment loans between $1,000 and $40,000 with affordable terms is first-rate, earning Lending Club our top spot among installment loan lenders.
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Site

4.5 stars
SoFi

SOFI

As a relatively newparticipant in the social finance market, the appropriately-named SoFi is making an impact. They're one of the only lenders offering unemployment protection - if you lose your job, you may be eligible to put your repayments on hold. You'll find their application process to be very easy using their well-designed website, while you won't be surprised by any hidden fees. SoFi should absolutely be on your list as the source of your installment loan.
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4.5 stars
Lending Tree

LENDING TREE

LendingTree is a fantastic resource for borrowers of every credit history. Although they work as something of a connection service between customers and lenders, rather than funding loans, their network of available borrowing partners is excellent - many of which are glad to work with clients whose credit isn't perfect. We also like that LendingTree's service allows borrowers to negotiate directly with lenders if they choose, in order to get more favorable loan terms. Read More... Visit
Site

4 stars
Live Watch

UPSTART

Where most loans are based on the borrower's credit history, Upstart makes it easy for Millennials -who may have little to no credit history - to prove their trustworthiness in other ways. Upstart takes a mathematical approach to making that determination: your SAT scores, major field of study, and your GPA are used to determine your future earning potential. Low interest rates combined with 3- and 5-year terms make Upstart worth your time when looking for an installment loan. Read More... Visit
Site

4 stars
100 Lenders

100 LENDERS

As the second-highest ranked borrower-to-lender referral service in our review, 100 Lenders gets high marks for a simple online application process. Customers praise their reliable service that connects them with a large network of partner lenders offering installment loans.
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3.5 stars
Net Credit

NET CREDIT

If you live in one of the 13 states served by NetCredit, you can benefit from their easy-to-complete application process. As a subsidiary of a well-known financial lending company, NetCredit specializes in customers with positive and less-than-perfect credit histories and is one of the few lenders that looks beyond that history to approve or decline a loan application.
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Site

3 stars
One Main Financial

ONE MAIN FINANCIAL

If your priority is reliability and a top rating with the Better Business Bureau, OneMain Financial is a strong contender for your installment loan. However, that dependability comes at a price, as OneMain's rates are consistently higher than other lending partners in our review, and you'll have to actually speak with a representative before getting any details about a possible loan offer.
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Site

3 stars
Personal Loans

PERSONAL LOANS

With flexible payment options on installment loans up to $35,000, Personal Loans acts as a referral service between borrower and lender. Although everything about Personal loans looks legit, prospective customers should be aware that there is very little information available about their history and reliability as a company.
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1 star
Max Lend

MAX LEND

With one of the smallest total loan amounts in our review, MaxLend started out with a lower rating. An "F" rating with the Better Business Bureau, given for numerous complaints relating to extremely high interest rates, deceptive lending practices, and constant pressure on current customers to take out another loan are the reasons why MaxLend is the lowest-rated source of installment loans in our review. Read More... Visit
Site

Continued from above

Repaid over time with a predetermined number of set payments, these loans can help bridge the gap between what you have and what you need while allowing you to comfortably accommodate the repayment schedule. Many installment loans today are funded using a system known as a social lending network, matching borrowers with lenders through a peer-to-peer structure. Compared with other loans available, these installment loans usually have lower interest rates, mostly because of the lower overhead costs associated with this type of borrowing.

While you may feel a little apprehensive when trying to choose a lender for your installment loan, there are several factors you can use to make sure your loan is on solid footing. When looking at any potential lender, here are three things to check out:

  • Loan application process. What do you need to provide in terms of documentation to complete the application? Can all or most of the process be done online?
  • Loan rates, terms, and amounts. Will the lender provide an installment loan that covers the amount you need? Do the available repayment terms Ė such as the interest rate, and length of the loan - seem reasonable?
  • Reputation. Does the lender have a good track record for providing quality customer service? Is the lending company accredited with the Better Business Bureau?

TopConsumerReviews.com has reviewed and ranked the best Installment Loans available today. We hope this information helps you find the loan you need with the best possible rate and terms!

Payday loans are dying. Problem solved? Not quite

In response, lenders have a new offering that keeps them in business and regulators at bay - payday installment loans. Payday installment loans work like traditional payday loans (that is, you don't need credit, just income and a bank account ...

Published:  Mon, 22 May 2017 07:04:00 GMT



California Has an Opportunity to Stop Predatory Lending with AB 784

While we know that payday loans and the "debt traps"Ě they create are bad, there's been recent, and troubling growth in even larger and more problematic loans known as installment loans. It's hard to believe, but under existing state law ...

Published:  Thu, 25 May 2017 01:00:00 GMT



Lawsuit seeks consumer restitution from high-cost online lenders

(TriceEdneyWire.com)-Four online lenders offering high-cost, small-dollar installment loans face a federal lawsuit alleging that the lenders collected on debts that consumers did not legally owe. Filed in late April by the Consumer Financial Protection ...

Published:  Wed, 17 May 2017 12:34:00 GMT



Online Lending Association Opposes California Legislation to Cap Interest Rates

The OLA states in the letter: "While those with strong credit histories have options such as bank loans, leveraging an asset, or tapping into savings, many borrowers who lack these alternatives turn to installment loans to meet their needs. These loans ...

Published:  Mon, 22 May 2017 15:14:00 GMT



6 More Indian Startups Selected For Google's Accelerator

IndiaLends: This is a Delhi based fintech startup which offers an online platform for different services like the personal loans, installment loans, unsecured loans and also credit cards. RecipeBook: This is a recipe discovery app. It will let the users ...

Published:  Sun, 28 May 2017 21:59:00 GMT



How OCC can help banks disrupt the payday loan industry

Today, excessive underwriting and compliance requirements have made it all but impossible for banks to make affordable small installment loans widely available. These requirements have driven millions of bank customers with low credit scores out of the ...

Published:  Wed, 24 May 2017 01:00:00 GMT



How costly Is bad credit? Many don't know, survey shows

Mix of credit accounts: Having a mix of account types doesn't have a large impact on credit scores, but it might be helpful to have both revolving accounts, such as credit cards and lines of credit, and installment loans, such as mortgages, auto loans or ...

Published:  Sun, 28 May 2017 07:03:00 GMT



Birmingham banks may wade back into short-term loans

While banks do not need any particular license to make installment loans, small loans or payday loans, Shevin said the risk involved in these loans has made larger banks skeptical to extend these loans. Some have cited moral or ethical reasons for withdraw ...

Published:  Thu, 25 May 2017 13:03:00 GMT



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