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24/7 Credit Now – Installment Loans Review

What is an Installment Loan?

A Personal Loan allows you to pay for your loan over a longer period of time than your traditional Payday Loan. With a Personal Loan you are allowed to repay the loan in scheduled payments that are generally equal in amount (last payment may vary slightly). If you have an active checking account, direct deposit and an income, you can be approved within a few minutes. The money is electronically transferred to and repaid from your bank account on certain dates you have agreed. This allows you the flexibility to deal with emergency cash circumstances such as auto repairs, unexpected medical bills, or other financial needs.

How it Works?

Borrowing is quick and easy! Simply do the following:

  1. Fill in our simple on-line form to get connected with a lending partner.
  2. You will usually receive your online decision from the lender within minutes.
  3. If approved, you then agree to the terms and conditions of your loan and electronically sign your loan agreement. In most cases, the funds with be in your account as soon as the next business day.

We are not an installment lender. We attempt to connect you with a lender in our network.

If connected with a lender, they will contact you to complete the process, review the terms of your loan and discuss repayment options. Please review our Terms and Conditions for comprehensive information regarding our loan service.

A few requirements include but are not limited to:

  • Have a valid checking or savings account with direct deposit
  • Be 18 years of age
  • Be a U.S. citizen or permanent resident
  • Minimum regular income of $800 per month

Upon meeting the qualifications, complete and submit our online form and we will aim to connect you with one of the lenders on our network.

Rates and Fees:

Our services are totally free to you! We do not charge any fees for connecting you with lenders. We do not provide loans and we do not have any influence over the rates and terms of our lenders.

Since 247 Credit Now is not a lender, we are not able to provide you with information on actual rates, fees, and APR (annual percentage rates) with the loan you may receive. Rates and terms of loans may vary by state and by lender.

After connecting you with a lender, and the loan is approved, the interest rates and fees that you will incur during repayment will be provided to you. This is a requirement of the Truth in Lending Act. If you agree to the rates and fees, the lender will direct you to an e-signature page, and your loan will be processed.

What happens if I don’t pay the loan back on time or don’t pay it back at all?

You are agreeing to pay a loan back after you accept the terms and conditions of the loan offered to you by the lender you are connected with. Partial payment, non-payment or late payment of your loan may result in additional fees, legal collection action and/or your failure to pay being reported to a consumer reporting agency.

Each lender has differing conditions and terms for their loans. Many lenders are willing to work with you if you should need some help. If you have questions or need more information, please call the lender directly. Let them know that you were connected with them through 247 Credit Now, and they will be happy to help. If you have any issue contacting them, please let us know.

What is the renewal policy for these types of loans?

Every lender has different Renewal policies. Some lenders may agree to alternative payment options resulting in a renewed loan and additional loan fees. Please make sure to review your lender’s renewal policies, and make your payment preferences known to your lender. If you have questions or need more information on renewal policies, please call your lender directly. Please let them know that you were connected with them through 247 Credit Now, and they will be happy to assist. If you have any issue contacting them, please get in contact with us.

Disclosure of Renewal Policy

Extending the repayment terms of a loan may result in additional interest paid, as well as late fees, which can significantly increase the total amount you pay back on a loan. In most cases the loan renewal policies are regulated by the state government.

Testimonials

We aim to provide the best installment loan service in the USA

Here are some of the things our customers have said about our service:

2019 Testimonials

“The best thing was the speed and ease of use. Glad I was able to use them and will use them in the future if needed.” – J. S.

“Great service and customer service, fast delivery of funds.” – J. V.

“Received quick response from my inquiry and then received a prompt phone call explaining the loan offer.” – B. S.

“Great service and great representatives! Will definitely use again!” – J. S.

2017 Testimonials

“Good website easy to use and all information required for terms and conditions at a touch of a button” – K. J.

“I was pleased with the service” – K. McC

“It was simple and easy to use fast pay out, good rates” – D. D.

“I like your service” – L. C.

“Very good service” – J. A.

“Easy website” – K. S.

2016 Testimonials

“Simple to use and secure interface to use for loan applications and if any assistance is required they are always happy to help applicants through the process” – J.S., Jul 2016

“Professional service very good” – S.J, Jul 2016

“Overall very good service” – P.R, Jul 2016

“The application was fairly straight forward and there is no waiting on results” – K.P., Jul 2016

“Excellent company would definitely recommend” – L.G., Jun 2016

“Quick, easy, fast Would use this service again very easy” – M., Jun 2016

2014 Testimonials

“This was the first time I applied for a payday loan and I definently would use this site again. The whole process was quick and easy and I got the money the same day.” – L.M., Feb 2014

“Although I changed my mind in the end and did not go through with the application I like the service as it was easy to use and it was speedy.” – J. H. B., May 2014

“Got the money I asked for within one hour – fantastic service.” – R.H., April 2014

“Straight forward process, no fuss, easy to apply and receive funds. They found the right loan for me. I would apply through this site again.” – M. W. , Jan 2014

“Very fast and good service. I received the money within one hour – far better than some of the other sites I looked at.” – J.G., Jan 2014

“I have used payday loans a couple of times and I found this site easy to use. I would use this site again and i would recommend it to a friend as the decision made was quick and funds were received straight away.” – R.B., May 2014

2013 Testimonials

“There has been a lot of stigma surrounding payday loans of late and this and of cause can be somewhat off-putting at times. It can be difficult to know who to trust with so many lenders out there today but I’m glad to say that I made the choice for me! Its great to know there is a provider I can trust! It was a simple and straight forward procedure and the costs were up-front and clear and I received my funds much sooner than anticipated. Thanks!” – Fiona F.

“A Very good, quick and efficient service” – Marc M.

“The service standard was good compared to other companies” – James W.

“The best thing about using the website is its simplicity” – Krista E.

“Quickness is the best thing about using the website” – Carole J.

“One of the responsible providers out there that provide help to those that truly need it and can afford to repay it” – Carl S.

“Really good and simple service” – Joseph G.

Responsible Lending Policy

All lenders accessible via this website are by law required to accept all rules and regulations of State and Federal governments. Please carefully read the following information to understand our responsible lending policies.

Disclosure of APR and Fees

The Truth in Lending Act states that all lenders must adhere to its content. Before signing up for a loan, your lender will deliver to you evidence showing the precise details of your loan terms, including interest rates and fees. You should carefully evaluate this information.

Federal and State Regulations

All lenders accessible via this website are by law required to accept all rules and regulations of State and Federal governments. Each state also has their own laws that govern installment loans.

Commitment to Fair Debt Collections

Any collections activities by a third party debt collectors would be governed by the Fair Debt Collection Practices Act (FDCPA). This is overseen by the Federal Trade Commission. The act requires that they comply with fair debt collection practices, including:

  • Not contacting you by phone outside the hours of 8:00 a.m. through 9:00 p.m.
  • Not harassing you or using abusive language towards you over the telephone.
  • Not using deception to try to collect money from you.
  • Not threatening you with legal action if it is not permitted.

Frank-Dodd Wall Street Reform Act

This act stipulates that lenders must follow fair lending practices, defined as fair, equitable, and nondiscriminatory access to credit for consumers. If you feel that your lender is not following these rules please contact us and file a complaint with the Federal Trade Commission.

Frequently Asked Questions

Is my personal and financial information secure?

We always respect your right to privacy with regards to your personal finances. This website uses various security systems to maintain the safety of your personal information. All personal and sensitive data is transmitted between your computer’s browser and our website uses 128 bit Secure Socket Layer (SSL) encryption technology.


What if I have bad credit?

We attempt to connect consumers with lenders regardless of your credit history. Requirements needed for a loan approval is based on each individual lender. Please review our How it Works page to determine if you have the basic requirements to qualify.


What is an installment loan or cash advance?

An Installment Loan allows you to pay for your loan over a longer period of time than your traditional Payday Loan. The lender’s Installment Loan products allows you to repay the loan in scheduled payments that are generally equal in amount (last payment may vary slightly).


What information do I need to complete the form?

We require your name, address, income information and banking details in order to complete your loan request.


How quickly can I get the money deposited into my checking account?

Usually, funds will be deposited into your account the next business day. However, sometimes some lenders may need to ask you for additional information based on your circumstances resulting in additional days for the deposit.


What are the requirements for an installment loan?

To be approved for a loan, you need to meet the individual requirements of the specific lender you are connected to. The lender will evaluate your form and decide if you are eligible based on its own established list of considerations such as income, direct deposit of your pay, past loan history and state of residence, may influence the approval of your loan.

A few requirements include but are not limited to:

  • Have a valid checking or savings account
  • Be 18 years of age
  • Be a U.S. citizen or permanent resident
  • Minimum regular income of $800 per month

If your loan form is accepted by a lender, your appointed lender may contact you directly and ask for extra information in order to approve your loan form. Installment lenders utilize their own specialized selection methods to assess applicants and will approve your loan if your information matches their criteria. You must complete our form with truthful certifiable information to improve your chances of getting connected with a lender. For example, entering a cell phone number instead of a home phone reduces your chances of your information being verified by the lender. However, we cannot guarantee that your loan form will be accepted.


Where do I find my ABA / Routing Number & account number?

Please see the diagram below for instructions on how to find the information from your check book. Alternatively please call your bank for more information.

How long do I have to pay back the loan?

Your Installment Loan payments will be due on consecutive pay periods and the term (length) of your loan will vary by state. You will be informed of the payment due dates and amounts when your loan is approved.


How do I pay back the loan?

If you complete the form, you agree to allow the Lender to initiate a transfer of funds from your bank account on the day the payment is due.

If you take out an installment loan and pay it off on time, this may be reported to a Credit Reference Agency. If you show a pattern of taking out a loan and always repaying the loan under the agreed timeframe, this may have a beneficial impact on your credit record.


What happens if I pay back my loan late?

Late payments of loans may result in additional fees or collection activities, or perhaps both.

Each Lender has their own terms and conditions, please be sure to look through their policies for additional information.


What happens if I do not pay back the loan?

Not repaying your credit could result in collection activities.

Each Lender has their own terms and conditions, please be sure to look through their policies for additional information.

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Written by Wolfgang Mayer

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