Best Reviews TopConsumerReviews.com Best Installment Loans Best Reviews
Best Reviews
      July 23, 2019

Home  >  Installment Loans  >  100 Lenders vs Life Loans

Best

Installment Loans

  1. SoFi
  2. LendingTree
  3. Upstart
  4. 100 Lenders
  5. Net Credit
  6. One Main Financial
  7. Personal Loans
  8. iLoan
  9. LifeLoans
  10. Max Lend

Compare Products

  • Select any 2 companies in our reviews to compare them head-to-head!
  • Compare

Your Information Is Secure
Personal Loan Tips Newsletter

Latest Reviews

Cruise Vacations

Dental insurance

Keto Diets

Learn to Read Programs

Menopause Relief

Online Fitness

Personal Trainers

Pet Meds

Popular Diets

Wedding Planning Guides

 

Individual Reviews

LendingClub

SoFi

LendingTree

Live Watch

100 Lenders

Net Credit

One Main Financial

Personal Loans

iLoan

Life Loans

Max Lend

 

Our professional reviewers evaluate products and services independently, but Top Consumer Reviews may earn money when you click on the links on our pages. Learn more.

Better Business Bureau Reliability Seal

100 Lenders vs Life Loans

Best Installment Loans

To help you find the Best Installment Loans, TopConsumerReviews.com provides you with an in-depth comparison of 100 Lenders and Life Loans.

To see ALL of our reviews for the Best Installment Loans, please Click Here

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

Best Reviews

2019

Installment Loan Reviews

4 stars
100 Lenders

100 LENDERS Visit Site

Loan:

From $100 to $35,000

As a connection service, 100 Lenders helps to bring borrowers and lenders together for loans ranging from $100 to $35,000. Applying for a loan with 100 Lenders is simple: provide your basic information (name, address, Social Security number, and frequency of your paychecks), and in a matter of minutes, you will get a list of loans offered by their lender network.

Because 100 Lenders does not fund loans themselves, you should be aware that interest rates, fees, and other terms depend completely on their partner lenders. That's one disadvantage of working with a partner service - not being able to determine in advance what the possible costs may be when taking out an installment loan. However, 100 Lenders has a very solid reputation, with hundreds of reviews from satisfied borrowers.

100 Lenders also participate in the Online Lenders Alliance, which requires all members to abide by accepted ethical standards while participating in the loan industry. So, while we would have liked to see even a possible range of APRs and fees from a sample of 100 Lenders' partners, we feel reasonably confident that the loans they facilitate aren't coming with extremely high fees or interest rates (otherwise, their customer satisfaction scores and reviews would tell a much different story).

There are a few factors that may make 100 Lenders a less-than-suitable choice for your installment loan, though. First, if you are a resident of Vermont, Washington, New York, Arkansas, Georgia, West Virginia or Oregon, you aren't eligible to apply for a loan through 100 Lenders' network. Also, even though 100 Lenders does accept applicants no matter their credit score, many of their lenders will only extend a higher interest rate payday loan to borrowers whose credit scores are below a particular level. In other words, if you've got bad credit and you're looking for a long-term installment loan, you might not get it through a 100 Lenders partner.

In general, 100 Lenders' track record of helping over 300,000 people with the loan application process in the last decade is solid, and their network of lending partners can meet many people's needs. Unfortunately, they aren't able to work in several large states, and don't seem to offer installment loans to customers with low credit scores.

Visit Site

2 stars
Life Loans

LIFE LOANS Visit Site

Loan:

From $100 to $35,000

LifeLoans offers installment loans ranging from $100 to $35,000. As a service that matches borrowers with a lending network, they do not fund any loans themselves.

The LifeLoans site is disappointingly short on details. How many lenders are in their network? What are the average interest rates on installment loans? How likely is it that an individual will qualify for a loan? Those are all excellent questions that go unanswered by the site. We did see in the very small print at the bottom of the site that residents of Connecticut, New Hampshire, Washington, and Vermont are not eligible to apply for any type of loan through LifeLoans.

To use the LifeLoans site, you start by entering your desired loan amount, monthly income, credit score range, and your zip code. From there, we would have liked to see a list of potential partners and sample loan terms. Instead, we were taken to another page asking for more detailed information, including our Social Security Number. Many people will be reluctant to provide that kind of ID without assurances that LifeLoans is a reputable source of installment loans.

However, we were unable to find anything solid to establish that reputation. We did see that they are members of the Online Lenders Alliance, which establishes policies of integrity and honesty in lending. On the other hand, LifeLoans had no listing with the Better Business Bureau and seemingly no history at all with previous customers - positive or negative.

In the end, LifeLoans could do a more effective job of establishing themselves as a reputable borrower-to-lender service with more transparency and with reviews from customers who have been satisfied with the process of getting an installment loan through their service.

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!

What Is an Installment Loan? Definition and Examples

An installment loan is a type of loan that allows individuals to borrow money and pay it back in installments over time. The amount borrowed is often a large sum. Installment loans are often used to ...

Published:  Tue, 09 Jul 2019 11:06:00 GMT



Best Installment Loans 2019: Compare Options

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn't influence our ...

Published:  Thu, 18 Jul 2019 13:31:00 GMT



How Taking Out a Personal Loan Impacts Your Credit Score

It's also worth noting that installment debt is generally better than revolving debt like credit cards. Owing 80% of your original balance on a personal loan is better than using 80% of your available ...

Published:  Mon, 22 Jul 2019 05:10:00 GMT



Small personal loans: when to get one and when to stay away

Personal loans are unsecured installment loans. That means you do not have to put your home directly on the line (as you would with a second mortgage) and you pay back your loan in equal monthly ...

Published:  Mon, 22 Jul 2019 04:47:00 GMT



Visa counters installment-loan fintechs with API for issuers

Visa's chief economist recently warned that fintechs are disintermediating banks' credit card businesses with instant access to installment loans. Now Visa is looking to disrupt the fintechs by giving ...

Published:  Thu, 27 Jun 2019 07:45:00 GMT



How Installment Loans Work

An "installment loan" is a broad, general term that refers to the overwhelming majority of both personal and commercial loans extended to borrowers. Installment loans include any loan that is repaid ...

Published:  Sun, 07 Jul 2019 17:00:00 GMT



California on verge of capping rates on installment loans

California lawmakers are poised to impose an interest rate cap on consumer installment loans after forging a compromise that has the support of advocacy groups and some lenders. The legislation passed ...

Published:  Wed, 26 Jun 2019 20:10:00 GMT



6 times it's smarter to use a personal loan instead of a credit card

"Generally speaking, installment loans (personal loans, mortgages, car, or student loans, etc.) are more favorable for your credit than revolving debt (lines of credit and credit cards)," says ...

Published:  Sat, 29 Jun 2019 08:17:00 GMT



Share Us!    Share TopConsumerReviews.com on Twitter Share TopConsumerReviews.com on LinkedIn Share TopConsumerReviews.com on Google+ Share TopConsumerReviews.com on Pinterest

Home      About Us      Terms & Conditions      Privacy Policy      Contact Us      Disclosure