12 Month Loan | Bad Credit Approvals
Learn how to get a 12 month loan even if you have bad credit. Complete everything online and get 1 year of installment payments to repay the loan. Wirelend has been working with people all over the United States to try and get them approved for small loans.
Does This 1 Year Loan Affect My Credit?
These twelve month loans for poor credit do not hinder your credit. We will attempt to match you with a direct lender and strive to get you approved.
Bad Credit Loan for 12 Months
Apply for a short term loan, we may be able to match you with a lender and you could receive a loan offer in minutes. If you have bad credit or no credit we may still be able to get you approved for financing. A bad credit loan can help you cover a few expenses that might be weighing on your mind. Funds will be sent direct to your checking account.
I have poor credit, will that be a problem?
In most cases your credit score will not be a factor in the loan process. You will know in seconds if you have been approved and your credit score will not be a factor. Lenders in our network do not check your credit score with the 3 big credit bureaus. Your score will also not affected by the application. Personal installment loans are designed with monthly payments and small loan amounts to help you avoid confusion and anxiety that comes with larger long term loans. Credit unions and banks will likely want analyze your credit prior to discussing financing opportunities.
Ways to Help Stretch Your Monthly Budget
Live In a Modest Home:
It may be best to live in a smaller house because having a very big house is not easy to maintain and aside from that, only few people will surely occupy such a mansion. So you are logically wasting space in making a big house. A small house may be not ideal to everyone but it sticks you with your family members and gives you more time to talk together. You may be able to get your mortgage payment under $500 per month. Which is a great accomplishment.
12 Month Loan Direct to Your Bank Account
Our lenders do not run a hard credit report. You could get a 12 month loan sent direct deposit to your bank account. Which means they never look at your actual credit score with the 3 main credit bureaus. Therefore your actual credit score is basically irrelevant. They may pull a personal loan industry report to see if you have multiple loans out or have defaulted on any loans recently. Be sure to carefully analyze and examine all loan documentation before committing to a loan. Know your budget , financial awareness is key to making decisions that fit your life. Be aware of the interest rate being charged and any additional fees such as documentation or processing.
A bad credit loan with 12 monthly payments is also known as a signature loan. Take up to one year to complete the loan terms. So unlike pawn stores or title lenders, you will not be required to provide collateral for this loan. You may qualify for more. Our lenders generally finance $500 up to $50000. Many factors go into the loan offer, from where you live to how much you make in an average month.
What Can I Do With These Monthly Loans?
This is certainly a very individual question. Most people find that a $500 installment loan is a great way to cover a short term or unseen expense. However, you can also use the money for shopping or getting a new set of tires on your car. Lots of people in America use small dollar loans to shore up their bank account until their pay checks hit their account and they can budget for the future.
Do I need a co-signer to accomplish my goals?
You do not need a cosigner. The 12 month loans offered by our lenders are personal loans and you either qualify on your own merit or not at all. We attempt to match you with a lender based on the information you submit on your application. If we are not able to match you with a lender then you will not receive a payday loan offer and we wish you the best of luck securing financing elsewhere.
I am in a predicament with my poor credit, how do I fix it?
There are a plethora of options from financial institutions to specialty companies that exist solely to assist clients with credit repair. From consolidating payday loans, credit cards, or online installment loans, it is quick and easy to start taking steps that are beneficial to rehabilitating your credit. Here is some more information are a few:
- https://www.experian.com/blogs/ask-experian/credit-education/improving-credit/credit-repair/
- https://www.creditrepair.com/frequently-asked-questions/how-much-does-credit-repair-cost
- https://www.lexingtonlaw.com/credit-repair-services
If you have unexpected expenses and could use some money fast, complete our loan application and we will attempt to pair you with a direct lender. A 500 loan online with poor credit could be your ticket to short term financial stability.
Example of a 12 Month Installment Loan
There is no guarantee you will receive a loan offer similar to this example
Loan Amount: $2000
Loan Term: 12 Months
Interest Rate: 32%
Monthly Payment: $197
| Date | Interest | Principal | Balance |
|---|---|---|---|
| Jan, 2020 | $53 | $144 | $1,856 |
| Feb, 2020 | $50 | $147 | $1,709 |
| Mar, 2020 | $46 | $151 | $1,558 |
| Apr, 2020 | $42 | $155 | $1,402 |
| May, 2020 | $37 | $160 | $1,243 |
| Jun, 2020 | $33 | $164 | $1,079 |
| Jul, 2020 | $29 | $168 | $911 |
| Aug, 2020 | $24 | $173 | $738 |
| Sep, 2020 | $20 | $177 | $561 |
| Oct, 2020 | $15 | $182 | $379 |
| Nov, 2020 | $10 | $187 | $192 |
| Dec, 2020 | $5 | $192 | $0 |
| 2020 | $363 | $2,000 | $0 |
Total of Payments: $2363
Total Interest Paid: $363
Choose Your Loan Amount | $500 | $800 | $1200 | $1500 | $1800 | $2000 | $2500