Installment Loan Reviews

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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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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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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.

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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.

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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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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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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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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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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.

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Installment Loans

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 isn't 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.

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 - 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 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!

Installment Loans In The News

Garth Brooks scores with first autobiography installment, 'The Anthology: Part I: The First Five Years'

Clearly, the public was ready for Garth Brooks' return. That includes Cleveland, where he served up four sold-out shows over two nights at Quicken Loans Arena in 2015. It was undoubtedly the best show I saw in the entirety of that 2015 concert season ...

Published:  Sun, 17 Dec 2017 02:03:00 GMT

Braviant Holdings Announces Launch of Chorus Credit Personal Loans

Chorus will complement Braviant's existing installment lending business, Balance Credit, by offering higher loan amounts at lower rates to the estimated 26% of California consumers who are underserved by traditional banks. A recent research study conducted ...

Published:  Thu, 14 Dec 2017 04:25:00 GMT

Would a bank payday loan be any safer

... extensively and recommends two fixes that could make these loans profitable without being predatory: " Allow borrowers to pay off their balances over several months as installment loans, rather than requiring the balance be repaid all at once ...

Published:  Sun, 17 Dec 2017 08:14:00 GMT

New Data Shed Light on Demographics of Student Loan Defaulters

A new issue brief from the Center for American Progress paints a comprehensive profile of who comprises the 1 million student borrowers who default on $20 billion in federal loans each year. The final installment in a series on student loan default-which ...

Published:  Thu, 14 Dec 2017 14:45:00 GMT

Bipartisan group of lawmakers introduce CRA resolution to override CFPB payday loan rule

A bipartisan group of lawmakers has introduced a joint resolution under the Congressional Review Act to override the CFPB's final payday/auto title/high-rate installment loan rule. House members sponsoring the bill consist of three Democrats and three ...

Published:  Mon, 04 Dec 2017 19:30:00 GMT

New study: Loan servicing software market - nextgen advancement by 2022

Moreover, it helps the banks, wholesale lenders, commercial finance, and specialty lenders to manage all types of installment loans, notes, contracts, mortgages, and deeds of trust, as well as some clients and contracts. The level of service varies ...

Published:  Thu, 14 Dec 2017 03:11:00 GMT

Medical Financial (MFIN) Sells $127M of Consumer Loan Receivables at Premium

The sale is the Bank's third of loans originated within its consumer lending businesses, and consisted primarily of home improvement and recreational vehicle installment loans. Consumer lending has accounted for the vast majority of the $53 million in ...

Published:  Wed, 13 Dec 2017 05:13:00 GMT

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