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If you have bad credit or high-interest credit card debt, you might be considering an installment loan to improve your credit with on-time payments. An installment loan can help rebuild your ...
Consider a secured installment loan: Some lenders offer secured installment loans to those with poor credit. These loans are backed by collateral, like a house or car, reducing the risk for the ...
Common types of installment loans include personal loans, student loans, auto loans and mortgages. Using installment loans to build credit There are a few ways an installment loan can help improve ...
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An installment loan is a type of agreement or contract involving a loan that is repaid over time with a set number of scheduled payments; [1] normally at least two payments are made towards the loan. The term of loan may be as little as a few months and as long as 30 years. A mortgage loan, for example, is a type of installment loan.
Installment loans typically come with lower rates than credit cards and lines of credit. Plus, interest can be fixed, which makes payments predictable — and easy to calculate before you borrow .
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