How to Get an Instant Loan
When you are looking at ways to get money quickly, there are several loan options available to you. The most common types of short-term loans available now include personal loans, payday loans, installment loans, title loans, and signature loans.
If you find yourself needing cash, there are options for you here at Liquid Loans. We believe that our customers need to be well informed to make the best financial decisions for themselves and their households. If you’ve been evaluating a payday loan, we want you to have all of the information before making your final decision.
What is a Payday Loan?
This type of loan is designed to help a borrower get cash quickly. It is a short-term loan, typically designed to help with smaller financial emergencies. In order to qualify for a payday loan, generally, collateral isn’t required so this would be considered unsecured. For example, a payday loan may be a couple of hundred dollars or several hundred for the most part. The terms of a payday loan will require a borrower to pay the loan off in full within a couple of weeks, or by their next payday. Paid off in full means to pay off the entire balance of the loan, plus interest, and usually, there are extra fees included. The total amount to be paid in the end can make it difficult for people to pay them off on time.
We encourage our customers to approach high-risk loans like title loans and payday loans with caution. On the plus side, they help the borrowers to get the money they need at the moment, however, the reality of a payday loan’s true costs can be difficult for many borrowers to afford to pay back. What this means is the payments can be higher, you may be paying back the loan for much longer than two weeks, and the total amount you will have paid back is more than the total amount borrowed.
At Liquid Loans, we have a better way and solution to short-term financial troubles. One solution is our installment loan, where the terms and conditions allow borrowers to pay back the loan in a reasonable amount of time, including the loan’s principal and interest. This means fair payments and repayment schedule, and you’ll be saving significantly on the total amount paid in comparison to the payday loan options.
Some important things to keep in mind, before agreeing to the loan, make sure you’re able to afford the payments so that you’ll be able to make all of them on time in order to avoid any penalties or term extensions. We also encourage our customers to research the companies offering the loans, do they have a good reputation? What are the customer reviews saying? What are the lender’s terms and conditions? It’s never wrong to ask a lot of questions if there’s ever a part of the truth in lending statement that is confusing, it’s ok to take your time. By following these guidelines, our hope is you’ll be able to avoid untrustworthy companies and locate the right lender to help with your situation. We hope you’ll consider us as one of your options, we have loan professionals who can answer any questions you may have at 801-948-4408, or if you’re ready to see if you can get approved for an online loan (no credit check required), please visit our application here.