And imagine building your credit in the process. Sounds like a dream? Keep reading to make it your reality.
What have you done when you needed quick cash in the past? Did you call up friends and family asking for help? If you didn’t out of fear of embarrassment, you probably looked for other types of loans. And if you’re like millions with bad credit who can’t get a “decent” loan, you probably turned to a payday loan.
The Problem With Payday Loans
Can a payday loan temporarily fill your pockets so you can handle an emergency or pay a bill? Yes, but at what cost? The main problem with payday loans is that while they may be convenient, they can be downright predatory due to ridiculously high interest rates.
Now, imagine you need a few hundred dollars because your light bill is way past due and your electricity is about to get shut off, leaving your entire family in the dark. You apply for a payday loan and get it, which helps you pay that light bill. And while your electricity stays on and your family can function, guess what that loan comes with? Up to 400 percent interest rates, which will just put you in a giant hole later on to the point that you’ll wish you never got the loan in the first place.
So, if payday loans are so expensive that many consider them predatory, why are they so popular? You can blame it on bad credit, because if you have a low credit score, a payday loan may be your only option as other lenders won’t be willing to work with you.
That may have been the case in the past, but thanks to an app like Possible Finance, you can now get quick cash through an installment loan with more reasonable interest rates.
The Benefits of an Installment Loan From Possible Finance
Let’s say you have bad credit, your car is out of warranty, it needs a costly repair, and you’re out of cash. Instead of opting for a payday loan with up to 400 percent interest, you can apply for an installment loan through Possible Finance.
What are the benefits of such a loan? First, you won’t have to worry about your bad credit holding you back, as there won’t be a credit check. Second, you can get up to $500, which is a nice chunk of change to handle emergencies. Third, you can pay the loan back over a more extended period. Payday loans often require payment with your next paycheck.
A Possible Finance installment loan can be paid back over two months. Last but not least, when you pay back the installment loan over two months, you can build up your credit score. So, not only do you get the quick cash you need, you build your credit score too so you can enjoy a better financial future.
To learn more about getting a $500 installment loan, visit Possible Finance now. Read all the fine print before applying for the loan, as interest charges will apply.
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