Yes, there is high risk. But they also serve a purpose !
When we think of the short term installment loans, high risk and high interest rate come to mind. Most people give a lot of thought before applying for a three month loan. But some, because of the desperate they are in, apply without a second thought. No matter which category you fall in, there is one thing you cannot dispute. These short term installment loans, despite the high interest rate, serve a purpose.
You get more time to pay the money back to the lender !
Obviously, this is what makes the short term 90 day loans so different from the 30 day loans. They are cash advances, yes, but in the case of the former, you get to have more time to take a breath and pay it back without a hassle. You have three paycheck time to make the payback and get through whatever emergency you have unscathed.
They are almost guaranteed:
I could have said 90 day loans are guaranteed but that would have been just a lie. Actually, i would have to say that it is subjective. Lenders would obviously have more hesitation to approve loans for a person who is unemployed and also has a very poor credit score. On the other hand, if you have a terrible credit rating but have a job at hand, you are guaranteed to get a short term loan.
When we think of the short term installment loans, high risk and high interest rate come to mind. Most people give a lot of thought before applying for a three month loan. But some, because of the desperate they are in, apply without a second thought. No matter which category you fall in, there is one thing you cannot dispute. These short term installment loans, despite the high interest rate, serve a purpose.
You get more time to pay the money back to the lender !
Obviously, this is what makes the short term 90 day loans so different from the 30 day loans. They are cash advances, yes, but in the case of the former, you get to have more time to take a breath and pay it back without a hassle. You have three paycheck time to make the payback and get through whatever emergency you have unscathed.
They are almost guaranteed:
I could have said 90 day loans are guaranteed but that would have been just a lie. Actually, i would have to say that it is subjective. Lenders would obviously have more hesitation to approve loans for a person who is unemployed and also has a very poor credit score. On the other hand, if you have a terrible credit rating but have a job at hand, you are guaranteed to get a short term loan.