How Can You Determine If An Installment Loan Is The Right Choice?

First, clearly assess the financial situation. Installment loans are intended as an occasional, short-term solution and not as a source of ongoing help. If you need more help than an installment loans can provide, consider talking to a professional credit counselor.

Only borrow the amount that you’re certain you can repay on time. If you’re able to budget the prompt repayment of your loan into your next pay period, you’re taking the responsible approach. When used responsibly and as intended, an installment loans works as a good alternative to overdrawing your bank account** and may help you cover emergency needs and unexpected expenses.