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How do you apply for a poor credit installment loan?

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Quick Answer

Individuals with poor credit can apply for installment loans at organizations such as Advance America and Allied Cash. These loans are also available from websites that include 1500installmentloans.com and Avant.com. Certain pertinent details are required during the loan application process; for instance, Avant.com requires information on monthly net income levels.

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Full Answer

During the online loan application process, Avant.com requires information on the applicant' sources of income, location and Social Security number. On the other hand, 1500installmentloans.net requires details such as the applicant's driver's license number, length of stay at current residence and the number of years that the person has been employed.

Advance America allows individuals to apply for installment loans either online or at brick-and-mortar centers. Individuals applying offline are required to present documents that include bank statements and identity cards. Allied Cash Advance lets applicants choose between shorter payment periods or smaller monthly payments.

Installment loans require a specified number of scheduled payments over a certain period, states Avant. Such loans include auto loans and mortgages. Unlike payday loans, installment loans involve payments that are evenly spread out over a particular period; in addition, loan terms are typically longer. Installment loans may be used to rebuild the credit of individuals with poor credit scores if they conform to set payment schedules.

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