Canon marketing – Canon Printer Help Desk http://canonprinterhelpdesk.com/ Wed, 21 Sep 2022 14:11:20 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://canonprinterhelpdesk.com/wp-content/uploads/2021/06/icon-2021-06-29T185907.604.png Canon marketing – Canon Printer Help Desk http://canonprinterhelpdesk.com/ 32 32 iCreditWorks Announces Addition of 4 Installment Loan to Broad POS Product Line https://canonprinterhelpdesk.com/icreditworks-announces-addition-of-4-installment-loan-to-broad-pos-product-line/ Tue, 09 Aug 2022 14:34:00 +0000 https://canonprinterhelpdesk.com/icreditworks-announces-addition-of-4-installment-loan-to-broad-pos-product-line/ “With Pay-in-4, we now offer a full suite of financing options to consumers through our unparalleled mobile app experience. Our platform presents the best loan offers to applicants across the credit spectrum in seconds,” said Scott YoungCEO of iCreditWorks. “Loan offers now range from a short-term Pay-in-4 loan for as little as $100at 60 months3 […]]]>

“With Pay-in-4, we now offer a full suite of financing options to consumers through our unparalleled mobile app experience. Our platform presents the best loan offers to applicants across the credit spectrum in seconds,” said Scott YoungCEO of iCreditWorks. “Loan offers now range from a short-term Pay-in-4 loan for as little as $100at 60 months3 standard installment loan of $20,000–all with high approval ratings.”

The appeal of this product for the healthcare consumer is clear: it is a valuable alternative payment option that involves no credit card interest accumulation and a repayment method in just 6 weeks. This is particularly beneficial in the dental industry, where affordability is the main barrier to acceptance of treatment and where the dental provider is often required to extend unsecured, short-term “in-office” payment plans to help the patient to accept treatment.

“With the introduction of the Pay-In-4 loan, we continue to focus on bringing responsible-only financing options that allow more consumers to say ‘YES’ to care,” says Cristian Mandachescu, Chief Risk Officer.

Offering only responsible and transparent lending products through the iCreditWorks platform enables consumers to pay for the care they deserve. Pay-In-4 loans will be available from all providers participating in the iCreditWorks program.

*All loans issued by WebBank

1APR stands for annual percentage rate. 2For example, a $400 loan repayable in 4 equal installments, at 0% APR, will have $100 for each payment. 3For example, a $1,000 loan for 24 months with an APR of 15.99% will have a payment of $48.96.

About iCreditWorks

iCreditWorks leverages innovative technology and mobility to deliver an omnichannel platform experience that provides access to a wide range of “point-of-sale” (POS) financing products, empowering consumers to take control of their financing . The first-of-its-kind iCreditWorks native mobile app delivers a simple, seamless, and secure financing experience that redefines the consumer journey.

To learn more about the company, please visit www.icreditworks.com.

iCreditWorks

Rich groves
SVP – Professional Affairs
(201) 450-4268
[email protected]

SOURCE iCreditWorks

]]>
iCreditWorks Announces Addition of 4 Installment Loan to Broad POS Product Line https://canonprinterhelpdesk.com/icreditworks-announces-addition-of-4-installment-loan-to-broad-pos-product-line-2/ Tue, 09 Aug 2022 07:00:00 +0000 https://canonprinterhelpdesk.com/icreditworks-announces-addition-of-4-installment-loan-to-broad-pos-product-line-2/ The Pay-In-4 installment loan offered through the iCreditWorks platform expands its broad loan product offering to include a short-term, four-payment, 0% APR1 option. ISELIN, NJ, August 9, 2022 /PRNewswire/ — iCreditWorks, a fast-growing FinTech platform, today announced the addition of Pay-In-4, a 0% APR short-term installment loan to the broad range of point-to-point financing products. […]]]>

The Pay-In-4 installment loan offered through the iCreditWorks platform expands its broad loan product offering to include a short-term, four-payment, 0% APR1 option.

ISELIN, NJ, August 9, 2022 /PRNewswire/ — iCreditWorks, a fast-growing FinTech platform, today announced the addition of Pay-In-4, a 0% APR short-term installment loan to the broad range of point-to-point financing products. available through the platform.* The Pay-In-4 loan is paid by the consumer in four equal installments2— the first payment equal to 25% of the loan is originally due by debit card — and does not require a credit check.

Payment in 4 iCreditWorks

“With Pay-in-4, we now offer a full suite of financing options to consumers through our unparalleled mobile app experience. Our platform presents the best loan offers to applicants across the credit spectrum in seconds,” said Scott YoungCEO of iCreditWorks. “Loan offers now range from a short-term Pay-in-4 loan for as little as $100at 60 months3 standard installment loan of $20,000–all with high approval ratings.”

The appeal of this product for the healthcare consumer is clear: it is a valuable alternative payment option that involves no credit card interest accumulation and a repayment method in just 6 weeks. This is particularly beneficial in the dental industry, where affordability is the main barrier to acceptance of treatment and where the dental provider is often required to extend short-term unsecured “in-office” payment plans to help the patient to accept treatment.

“With the introduction of the Pay-In-4 loan, we continue to focus on bringing responsible-only financing options that allow more consumers to say ‘YES’ to care,” says Cristian Mandachescu, Chief Risk Officer.

Offering only responsible and transparent lending products through the iCreditWorks platform allows consumers to pay for the care they deserve. Pay-In-4 loans will be available from all providers participating in the iCreditWorks program.

*All loans issued by WebBank

1APR stands for annual percentage rate. 2For example, a $400 loan repayable in 4 equal installments, at 0% APR, will have $100 for each payment. 3For example, a $1,000 loan for 24 months with an APR of 15.99% will have a payment of $48.96.

About iCreditWorks

iCreditWorks leverages innovative technology and mobility to deliver an omnichannel platform experience that provides access to a wide range of “point-of-sale” (POS) financing products, empowering consumers to take control of their financing . The first-of-its-kind iCreditWorks native mobile app delivers a simple, seamless, and secure financing experience that redefines the consumer journey.

To learn more about the company, please visit www.icreditworks.com.

iCreditWorks

Rich groves
SVP – Professional Affairs
(201) 450-4268
rich.groves@icreditworks.com

(PRNewsfoto/iCreditWorks)

(PRNewsfoto/iCreditWorks)

Quote

Quote

View original content for multimedia download: https://www.prnewswire.com/news-releases/icreditworks-announces-the-addition-of-a-pay-in-4-installment-loan-to-its-broad -point-of-sale-product-suite-301602616.html

SOURCE iCreditWorks

]]>
Georgia Amends Residential Mortgage and Installment Loan Laws | Alston and bird https://canonprinterhelpdesk.com/georgia-amends-residential-mortgage-and-installment-loan-laws-alston-and-bird/ Fri, 05 Aug 2022 19:05:18 +0000 https://canonprinterhelpdesk.com/georgia-amends-residential-mortgage-and-installment-loan-laws-alston-and-bird/ A&B Summary: On May 2, 2022, Georgia Governor Brian Kemp signed into law HB 891 and SB 470. HB 891, effective July 1, 2022, updates various laws enforced by the Georgia Department of Banking and Finance (the “Department”) ), including by amending (1) certain licensing exemptions under the Georgia Residential Mortgage Act (“GRMA”), and (2) […]]]>

A&B Summary:

On May 2, 2022, Georgia Governor Brian Kemp signed into law HB 891 and SB 470. HB 891, effective July 1, 2022, updates various laws enforced by the Georgia Department of Banking and Finance (the “Department”) ), including by amending (1) certain licensing exemptions under the Georgia Residential Mortgage Act (“GRMA”), and (2) the Georgia Installment Loans Act (“GILA”) to impose a new license to service installment loans subject to GILA. Similarly, SB 470, which became effective immediately, amends GRMA provisions regarding criminal restrictions for employees of mortgage licensees.

Amendments to the Licensing of Lenders and Mortgage Brokers

HB 891 made several changes to Title 7 of the Georgia Code, including several changes to the GRMA, but perhaps one of the most notable changes regarding mortgages involves the creation of a new licensing exemption under of the GRMA for persons holding loans for securitization in a secondary market. Specifically, effective July 1, 2022, any person who purchases or holds closed mortgages for the sole purpose of securitizing them in a secondary market is expressly exempt from licensing, provided that person holds the individual loans for less than seven months. days. Note that the law further defines “person” as any individual, sole proprietorship, corporation, LLC, partnership, trust, or other group, however organized. As written, the new wording of the exemption suggests that individuals holding loans under the securitization process for more than 7 days would not qualify for the exemption. Note that the GRMA’s existing definition of a “mortgage lender” includes a “person who directly or indirectly…holds or purchases mortgages” and the GRMA contains an existing exemption for anyone who purchases mortgages from a mortgage broker or mortgage lender solely as an investment and not in the business of brokering, originating, purchasing or servicing mortgage loans.

HB 891 also amended an existing exemption from licensure applicable to certain individuals under an exclusive independent written contractual agreement with a mortgage broker who is or is affiliated with an insurance company or broker. Under the exemption, as amended, an individual otherwise required to be licensed is exempt from obtaining a license as a lender or mortgage broker, when under an exclusive independent contractor written agreement with a licensed Mortgage Broker, so long as the Mortgage Broker meets certain expanded criteria, including, among others (1) maintaining an active Mortgage Broker license, (2 ) maintaining full and direct financial responsibility for the natural person’s mortgage business, (3) retaining full and direct responsibility for the education of natural persons, claims management and supervision of the mortgage business of the natural person, (4) have publicly traded securities and meet certain market capitalization requirements, (5) be licensed as an insurance company or registered as a a broker; and (6) be licensed as a mortgage lender or broker in ten or more states. The exemption previously applied to certain natural persons employed by the subsidiary of certain financial holding companies. In particular, to maintain the exemption, the individual must, among other things (1) be licensed as a mortgage originator in Georgia and work exclusively for the licensee, the parent company if the licensee is a wholly-owned subsidiary, or a subsidiary of the Licensee if the Affiliate and the Licensee are wholly-owned subsidiaries of the same parent company, and (2) be licensed as an insurance agent or registered as a brokerage agent on behalf of Licensee, Parent Company if Licensee is a wholly owned subsidiary, or an Affiliate of Licensee if Affiliate and Licensee are wholly owned subsidiaries of the same company mother.

HB 891’s changes to the GRMA’s licensing provisions follow SB 470, which made welcome changes to the GRMA’s misdemeanor restrictions. As amended, Georgia law now provides that the Department cannot issue or revoke a license or registration if it finds that the mortgage originator, broker or lender, or any person who is a director, officer , partner, covered employee or ultimate equitable owner of 10% or more of the Mortgage Broker or Lender or any person who directs the affairs or establishes policy for the Mortgage Broker or Lender, applicant, registrant or licensee, has been convicted of a felony in any jurisdiction or of a felony which, if committed in Georgia, would constitute a felony under Georgian law. Previously, Georgia law arguably prohibited a licensee from retaining any a person convicted of a crime who could be considered an employee or agent of the Licensee. As amended, the employee restriction is relaxed to apply only to a “covered employee”, a newly defined term which refers to an employee of a lender or mortgage broker “involved in activities related residential mortgage loans for property located in Georgia and includes, but is not limited to, a mortgage loan originator, processor or underwriter, or other employee who has access to origination, processing or underwriting information residential mortgage loan. In particular, the restriction no longer applies to an “agent” of a licensee.

Changes to Installment Loan Licensing

HB 891 also amended GILA to require a license for persons engaged in servicing installment loans. Prior to the amendments, GILA imposed a licensing requirement only on persons who advertised, solicited, offered, or granted installment loans to individuals for amounts less than or equal to $3,000. As amended, anyone who handles installment loans made by others, excluding loans made by affiliated entities, is also required to obtain a license. Amendments to HB 891 also added a number of new authorization exemptions, including for (1) retail installment transactions conducted by retail installment sellers and retail sellers, as these terms are defined , and (2) transactions in which a lender offers a consumer a line of credit for more than $3,000, but the consumer uses $3,000 or less of the line, as long as there is no restrictions that would limit the consumer’s ability to use more than $3,000 of margin at any one time. In addition, the interest tax provisions of GILA have been repealed and re-enacted and now require installment lenders to remit to the Department a fee of 0.125% of the gross loan amount on each loan made beginning July 1. 2022, and such fee becomes due upon realization of any loan subject to GILA. This revised charge replaces the previous charge of three (3) percent of the total amount of interest on any loan collected. The law specifies that per-loan fees must be paid by the licensee and cannot be passed on to the borrower as additional itemized fees or charges. The method by which a licensee pays fees is subject to further clarification via Department regulations.

Carry

Mortgage lenders and brokers should review the GRMA, as amended, to determine whether, and if so, how, the amendments affect their licensing requirements or their policies regarding employee background checks. Georgia. In addition, entities that service installment loans subject to GILA, which are issued by non-affiliates, must now obtain a license. Licensees should also take note of the new fee-per-loan requirements instead of the previous fee payment regulations.

[View source.]

]]>
How to get a GADCapital installment loan for your children’s needs https://canonprinterhelpdesk.com/how-to-get-a-gadcapital-installment-loan-for-your-childrens-needs/ Tue, 12 Jul 2022 07:00:00 +0000 https://canonprinterhelpdesk.com/how-to-get-a-gadcapital-installment-loan-for-your-childrens-needs/ When you have children, everything changes. You have to worry about a lot more things and your expenses increase. If you’re like most parents, you probably need a little help every month to make ends meet. This is where installment loans can come in handy. But before applying for any of these loans, there are […]]]>

When you have children, everything changes. You have to worry about a lot more things and your expenses increase. If you’re like most parents, you probably need a little help every month to make ends meet. This is where installment loans can come in handy. But before applying for any of these loans, there are some things you should consider. In this blog post, we’ll look at some of the most important factors to consider when getting an installment loan with kids.

How an installment loan can help you when you have kids

An installment loan could give you the extra financial help you need if you’re struggling to make ends meet each month. With an installment loan, you take out a predetermined amount of money and repay it over time in predetermined monthly installments. It’s a great way to put money aside each month to cover unexpected expenses or just to spend some extra cash.

When you get an installment loan, you immediately receive the funds or item you purchase. You repay it over a predetermined period of time in installments, which may contain interest. You frequently pay the same amount each week, each month or each year for a specific period. Once the loan has been fully repaid, the account is permanently closed.

What to consider before taking out an installment loan

There are a few things to consider before applying for an installment loan:

  • First, you need to make sure you can afford the monthly payments. The last thing you want is to fall behind on your payments and find yourself in even more debt.
  • Second, you need to be aware of the interest rate on the loan. The higher the interest rate, the more you will have to repay in the long term. Be sure to shop around and compare rates before deciding on a loan.
  • Finally, remember that an installment loan is a serious financial commitment. It’s not something you should take lightly. Make sure you only borrow what you need and make your payments on time. If you do, an installment loan can be a great way to get the extra money you need each month.

Installment loans can be a great way to get the extra cash you need each month, but there are a few things to consider before applying. Make sure you can afford the monthly payments and be aware of the interest rate on the loan. Remember that an installment loan is a serious financial commitment and only borrow what you need. If you do, an installment loan can be a great way to help you make ends meet each month.

If you’re thinking about getting an installment loan, be sure to consider all of these factors before you apply. This will help ensure that you are getting the best loan for your needs and can afford the monthly payments. An installment loan can be a great way to get the extra money you need each month, but only if you’re prepared for it.

What factors do you take into consideration?

There are a few important things to consider before applying for a GADCapital installment loan. Before applying for a loan, make sure you understand all of the following:

  • How much you can afford to borrow
  • The interest rate on the loan
  • How long you will need to repay the loan
  • What will your monthly payments be?

By taking all of these factors into account, you can ensure that you get the best loan for your needs and that you will be able to afford the monthly payments. An installment loan can be a great way to get the extra money you need each month, but only if you’re prepared for it.

The advantages of the installment loan for parents

For parents, installment loans can be a great way to get the extra money you need each month. With an installment loan, you can borrow a set amount of money and then make fixed payments each month until the loan is paid off. It can be a great way to cover unexpected expenses or just have extra cash on hand each month.

One of the advantages of installment loans is that you can get the money you need right away. This can be useful if you have an unexpected expense or just need a little extra cash to tide you over until your next paycheck. And, since you make fixed payments each month, it can be easy to budget for your loan repayments.

Have you considered applying for an installment loan?

An installment loan can be a fantastic choice if you’re looking for a way to get more money each month. With an installment loan, you can take out a predetermined loan amount and make fixed monthly payments until the debt is paid off. It’s a great way to prepare for unexpected expenses or just to have extra cash on hand each month.

Be sure to weigh all the facts if you are considering taking out an installment loan. You can ensure that you are getting the best loan for your needs and can afford the monthly payments by doing this. If you’re ready, an installment loan can be a great way to get the extra money you need each month.

Restrictions on installment loans

Although loans can be used to buy a home or cover school fees, borrowing has its downsides. A monthly payment is required for an installment loan. You run the risk of losing loan collateral or damaging your credit if you can’t make the payments.

Due to the ambiguity of life, you may not know in advance how much money you will need or when. If you max out your debt-to-equity ratio with a one-time loan, you may not qualify for further loans. Greater flexibility may be available with a credit card or other type of line of credit.

Author Bio: Brycen Schinner, Loans Writer at GADCapital

Brycen Schinner works as a personal finance editor. He holds a degree in English Literature from the University of Colorado at Boulder. In the past, as an editor at eBay as well as head of the editorial team who wrote about eBay’s content team around the world. He has also written for Yahoo. After joining Gad Capital in 2013, he covered topics ranging from personal loans to debt management.

]]>
What is an installment loan and how does it work? https://canonprinterhelpdesk.com/what-is-an-installment-loan-and-how-does-it-work/ Tue, 07 Jun 2022 11:50:41 +0000 https://canonprinterhelpdesk.com/what-is-an-installment-loan-and-how-does-it-work/ An installment loan is a lump sum of money that you borrow and then repay at fixed intervals. Installment loans are often used to finance a major purchase, such as a house, car or boat, or to fund education, although you can get an installment loan for almost any reason. If you’re wondering what an […]]]>

An installment loan is a lump sum of money that you borrow and then repay at fixed intervals. Installment loans are often used to finance a major purchase, such as a house, car or boat, or to fund education, although you can get an installment loan for almost any reason.

If you’re wondering what an installment loan is, you’ve come to the right place. Learn more about how installment loans work, the pros and cons, and how to get an installment loan.

What is an installment loan?

An installment loan is a type of loan that lets you borrow money and pay it back in equal monthly installments or another predetermined schedule. You repay the principal loan amount, plus interest, in fixed monthly installments until you have repaid the loan.

Installment loans usually have a fixed interest rate that does not change for the life of the loan. However, some installment loans, such as private student loans, have a variable interest rate that can change while you pay off the loan.

Some installment loans also charge an origination fee to process your application. Depending on the type of installment loan, you may have to pay a prepayment charge if you prepay the loan. But if you don’t make payments according to the repayment terms or make late payments, you could incur additional charges and hurt your credit score.

Installment loans work differently from revolving credit, like a credit card. Revolving credit, like a credit card or line of credit, lets you borrow money and pay it back over and over again, while making payments on an installment loan until it’s due. refunded in full. Payday loans are also different from installment loans in that you repay a payday loan in a lump sum instead of fixed installments.

Types of installment loans

Installment loans can be secured loans, which means they are backed by collateral, or unsecured loans, which are not backed by collateral. Mortgages and auto loans are two types of installment loans that are secured. Examples of unsecured installment loans include student loans, personal loans, and debt consolidation loans.

Mortgages

A mortgage is one of the most common types of installment loans used to purchase a house, condo, or land. Your home is collateral for a mortgage, so if you don’t make the payments, your lender can foreclose on your property. Most mortgages are repaid at fixed interest rates over 15 or 30 years. Your home is collateral for a mortgage, so if you don’t make the payments, your lender can foreclose on your property.

Car loans

Car loans are also installment loans which are secured loans. Since your vehicle serves as loan security, it can be repossessed if you don’t repay your car loan. Repayment terms generally range from 24 months to 84 months, with the most common being 72 months.

Student loans

A student loan is an installment loan, whether you borrow from the federal government or a private lender. The standard repayment term for a federal student loan is 10 years. Federal student loans have a fixed interest rate. For private student loans, repayment terms vary by lender. Private student loan interest rates can be fixed or variable.

Personal loans

A personal loan is a form of installment credit that you can take out for almost any reason. You borrow a lump sum of money and then repay it at regular intervals. Common reasons for taking out a personal loan include medical bills, home improvement projects, debt consolidation, or paying for a wedding or vacation.

debt consolidation loan

A debt consolidation loan is a personal loan that you use to combine multiple debts into one monthly payment, often at a lower interest rate. Since more of your monthly payment goes toward the principal balance, a debt consolidation loan can reduce the time it takes to pay off debt. APRs range from 6% to 36%, depending on your credit score.

Home Equity Loans

A home equity loan, or second mortgage, is a type of secured loan that lets you borrow against the equity in your home. You repay it at a fixed interest rate on a set schedule. It is similar to a home equity line of credit (HELOC) in that both allow you to borrow against the equity in your home, however, a HELOC is a type of revolving credit that usually has a rate of varying interest.

Buy now, pay later

Buy now, pay later services like Klarna and AfterPay offer a form of tiered credit. You typically split the purchase price into four interest-free installments. Installment payments are charged to your debit or credit card.

Advantages and disadvantages of installment loans

Installment loans have several advantages and disadvantages that you should be aware of.

Advantages of the installment loan

  • Predictable payments. Personal loans have a fixed repayment schedule and most have fixed interest rates. As you know the amount of your monthly payments, you can integrate them into your budget.

  • Lower interest rates. Installment loans often have competitive interest rates that are much lower than credit card interest rates, especially if you have good credit. The best installment loans have rates as low as 2.99% APR. This is one of the reasons why installment loans are often a good choice for debt consolidation.

  • Allow you to finance major purchases. An installment loan is often the only way to borrow enough to finance a major purchase, such as a house, car or boat.

  • Less impact on your credit score. Taking out an installment loan hurts your credit score less than charging a credit card or line of credit. Your credit utilization rate, or the amount of open revolving credit you use, is 30% of your credit score. You want your credit utilization to be as low as possible. Unlike revolving credit, installment credit does not affect your utilization rate.

Disadvantages of the installment loan

  • Risk of borrowing too much. Unlike a line of credit where you can borrow as much or as little as you want, with an installment loan you need to decide how much to borrow up front. This could cause you to borrow too much money.

  • Costs. Many installment loans have fees, such as origination fees, documentation fees and prepayment fees, which can increase the cost of borrowing. Missed payments can also result in late fees and hurt your credit.

  • Risk of loss of warranty. Many installment loans are secured loans, meaning they are secured by collateral. A mortgage and a car loan are two examples. If you don’t make payments, you could lose your warranty.

Frequently Asked Questions (FAQ)

What is the difference between a personal loan and an installment loan?

A personal loan is a type of installment loan. It is usually an unsecured loan that can be used for almost any purpose. Because personal loans are generally not secured by collateral, they have higher interest rates than mortgages and car loans. However, they often have lower rates than a credit card.

Are installment loans hurting your credit?

An installment loan can hurt your credit slightly in the short term because you can lower your average credit age and get your credit report thoroughly investigated. However, an installment loan is generally much better for your credit than shopping with a credit card because you are not increasing your credit usage.

Can I pay off an installment loan sooner?

Yes, you can usually pay off an installment loan sooner, but check the loan documents to make sure you won’t incur a prepayment penalty. Also, look at the interest rates of any other debts you have. Installment loans often have lower interest rates than other types of debt, such as credit cards. Tackling higher interest rate debt first is usually a better bet.

Robin Hartill is a Certified Financial Planner and Senior Writer at The Penny Hoarder. Send your tricky money questions to AskPenny@thepennyhoarder.com.

This was originally published on The Penny Hoarder, which helps millions of readers around the world earn and save money by sharing unique job opportunities, personal stories, giveaways and more. The Inc. 5000 ranked The Penny Hoarder as the fastest growing private media company in the United States in 2017.

]]>
Advantages and disadvantages of a payday loan compared to a personal installment loan https://canonprinterhelpdesk.com/advantages-and-disadvantages-of-a-payday-loan-compared-to-a-personal-installment-loan/ Thu, 26 May 2022 06:00:32 +0000 https://canonprinterhelpdesk.com/advantages-and-disadvantages-of-a-payday-loan-compared-to-a-personal-installment-loan/ When it comes to choosing between a payday loan and a personal installment loan, there are many factors to consider. Both options have their pros and cons, and the right choice for you will depend on your needs and personal situation. For example, CreditNinja offers quick cash loans that can help you meet a variety […]]]>

When it comes to choosing between a payday loan and a personal installment loan, there are many factors to consider. Both options have their pros and cons, and the right choice for you will depend on your needs and personal situation.

For example, CreditNinja offers quick cash loans that can help you meet a variety of needs.

But how do you choose between a personal loan and a personal installment loan? In this blog post, we’ll discuss the pros and cons of payday loans versus personal installment loans to help you make an informed decision on which loan option is right for you.

1. Payday loans are high-interest, short-term loans that need to be repaid in a single payment

The biggest benefit of a payday loan is that it can provide you with quick and easy access to cash when you need it. However, there are also significant risks associated with these loans.

For one thing, interest rates on payday loans are often much higher than those on other types of loans, which can make them difficult to repay. Also, if you are unable to repay a payday loan, you may be subject to lender fees and additional interest charges.

  1. Personal installment loans are long-term, low-interest loans that can be repaid over months or years

One of the main advantages of personal installment loans is that they generally have lower interest rates than payday loans. This means you’ll save money on interest charges over the life of the loan.

Additionally, personal installment loans can be used for a variety of purposes, such as consolidating debt, home improvement, or financing a major purchase. Therefore, they offer greater flexibility than payday loans.

3. Payday loans can be useful in times of financial emergency, but they should only be used as a last resort

Payday loans are generally small, short-term loans that must be repaid within a few weeks. They often have high interest rates, which can make them expensive. Plus, they can hurt your credit score if you fail to repay the loan.

If you are facing a financial emergency and are considering a payday loan, be sure to exhaust all other options first. Borrow from friends or family, use a credit card or dip into your savings account. Do not turn to the personal loan as a last resort.

4. Personal installment loans are a better option for people who need money for a long time

For many people, personal installment loans are a better option than other types of loans. Installment loans are repaid over a fixed period, which makes it easier to budget for loan repayments.

Additionally, the interest rate on an installment loan is often fixed, meaning the monthly payment will remain the same for the life of the loan. This can make planning for your financial future easier.

Additionally, personal installment loans often have lower fees than other types of loans, making them a more cost-effective option. If you need money for a long-term expense, like a home improvement project or a new car, a personal installment loan may be the best option for you.

5. Payday loans often have high fees and interest rates, while personal installment loans usually have lower fees and interest rates

Payday loans and personal installment loans are two popular options for people who need quick access to money. However, these two types of loans have key differences.

Payday loans often have higher fees and interest rates than personal installment loans. Indeed, payday loans are generally of lower amount and must be repaid in a shorter period of time.

Personal installment loans, on the other hand, are usually larger and can be repaid over a longer period. This means the lender can spread the cost of the loan over a longer period, making it more affordable for the borrower. Therefore, personal installment loans generally have lower fees and interest rates than payday loans.

]]>
7 smart ways to use an installment loan for your financial needs https://canonprinterhelpdesk.com/7-smart-ways-to-use-an-installment-loan-for-your-financial-needs/ Thu, 19 May 2022 10:30:00 +0000 https://canonprinterhelpdesk.com/7-smart-ways-to-use-an-installment-loan-for-your-financial-needs/ An installment loan is the first thing that comes to mind whenever we need money. It is a type of loan that is repaid in equal monthly installments until the full amount is paid off. It offers flexibility and competitive rates and can be used for various financial needs. The term of the loan depends […]]]>

An installment loan is the first thing that comes to mind whenever we need money. It is a type of loan that is repaid in equal monthly installments until the full amount is paid off. It offers flexibility and competitive rates and can be used for various financial needs.

The term of the loan depends on the amount you have borrowed, but is usually a few months to a few years. Borrowing limits are also generally higher than other types of loans, such as revolving lines of credit or payday loans. But when can an installment loan be a good idea? Here are seven situations where it can help:

Emergency expenses

You can get an installment loan if you need funds immediately to cover bills, an emergency expense, or something else that needs immediate attention. An emergency expense, such as your car breaking down or the unexpected death of a family member, can be devastating to your finances.

Suppose you need an installment loan to cover an emergency expense, such as expensive medical bills. Then you can take out a loan from CreditNinja to get the money you need the next business day. You don’t even have to worry if you have bad credit because they offer installment loans for people with bad credit.

Vacation or trip abroad

The thought of planning a fun getaway can be exciting. But too many people let their vacation dreams turn into financial nightmares when they don’t have enough money to travel.

If you dream of an adventure abroad or just want to take your family somewhere nice for the weekend, you can use an installment loan to cover the costs. This way you can have fun without worrying about how you’re going to afford your vacation.

start a business

Another smart use of an installment loan would be to start your own business. Loan funds can be used to purchase supplies for your business or pay for initial marketing costs, such as advertising.

With an installment loan, starting a business is easier than ever. You’ll have the cash you need to get your business up and running in no time.

Debt Consolidation

If you’re having trouble paying off your credit card or other debts, you can consider consolidating loans into lower interest payments. Considering that debt consolidation is one of the most common reasons for getting a personal installment loan, it’s a great way to pay off your debts.

Also, a personal loan usually comes with a lower interest rate than many other loans, such as credit cards. So if you’re looking for the best way to get out of debt, an installment loan can be a great option.

Improve credit score

A good credit rating is essential when people are looking to borrow money from financial institutions. Your credit score is built by your financial habits, such as paying your bills on time, keeping loans and lines of credit open for an extended period of time, and using your credit limit.

Taking out an installment loan can help you build a strong credit history and improve your credit score. However, its realization will necessarily require a certain level of financial discipline.

Car costs

Unscheduled maintenance and repairs to your car will put you in a position to need immediate cash. The best type of installment loan to get is either a car loan or a personal loan if you are looking to buy or repair a car.

The only difference between a car loan and a personal loan is that car loans have lower interest rates than the latter and use your vehicle as collateral. The decision is yours, so carefully consider the pros and cons of each type of loan if you ever need one for your car in the future.

Household appliances

You may need or want to upgrade your appliances and furniture from time to time. But if you don’t have cash, an installment loan can come in handy. This will allow you to purchase the necessary items without saving for a large purchase.

With an installment loan, you can spread the cost of your purchase over several months or even years. You won’t have to empty your savings account all at once or make a large purchase on your credit card.

Final Thoughts

An installment loan can be a great financial tool to help you out in a variety of situations. But as with any loan, you must understand the terms and conditions before signing on the dotted line. So be sure to choose the right loan for your needs and take the necessary steps to ensure you can make all payments on time. With these tips, you can build a better financial future for you and your family!

Make a donation

BK Reader is offered to you free of charge every day. Please consider supporting independent local news by donating here. Whether it’s $1 or $100, no donation is too big or too small!

Share this story!

?>

]]>
iCreditWorks Announces Addition of TrueZERO% Installment Loan to Extensive Point-of-Sale Product Line | https://canonprinterhelpdesk.com/icreditworks-announces-addition-of-truezero-installment-loan-to-extensive-point-of-sale-product-line/ Wed, 13 Apr 2022 17:21:00 +0000 https://canonprinterhelpdesk.com/icreditworks-announces-addition-of-truezero-installment-loan-to-extensive-point-of-sale-product-line/ The TrueZERO% Installment Loan offered through the iCreditWorks* platform expands its broad loan product offering to include a true 12-month 0% APR program. ISELIN, NJ, April 13, 2022 /PRNewswire/ — iCreditWorks, one of the fastest growing FinTech platforms in the United States, today announced the addition of TrueZERO% to its extensive line of point-of-sale financing […]]]>

The TrueZERO% Installment Loan offered through the iCreditWorks* platform expands its broad loan product offering to include a true 12-month 0% APR program.

ISELIN, NJ, April 13, 2022 /PRNewswire/ — iCreditWorks, one of the fastest growing FinTech platforms in the United States, today announced the addition of TrueZERO% to its extensive line of point-of-sale financing products. This installment loan product has an annual interest rate of 0%; the principal balance of the loan is divided into 12 monthly installments. The TrueZERO% installment loan product is available to qualified applicants through the native iCreditWorks mobile app and iCreditWorksPRO tablet in the office.

“Today’s consumers demand simple, responsible and transparent loan products”, said Stephen E. Sweeneypresident and founder of iCreditWorks. “Many deferred interest products are misunderstood by consumers and we are committed to providing a better financing experience. The TrueZERO% is a transparent 0% interest rate product that sets the new standard in low cost lending. the consumption.”

Offering consumers a clear path to repayment, the TrueZERO% installment loan is unique in a market where deferred interest loan products and revolvers are prevalent. By selecting a TrueZERO% installment loan, a consumer’s loan principal balance is simply divided into 12 equal monthly installments with no accrued interest.

“TrueZERO% represents the continued expansion of point-of-sale products offered through the iCreditWorks platform,” says Cristian Mandachescu, Chief Risk Officer. “We are committed to empowering consumers to say ‘YES’ to their treatment, by providing access to a suite of installment loan products that helps everyone find an ideal and affordable financing option.”

The TrueZERO% installment loan product will be offered by all healthcare providers participating in the iCreditWorks credit program. TrueZERO% represents the newest addition to the lending products offered by iCreditWorks, which also includes standard installment loans and “interest-free” incentive loans up to $20,000. iCreditWorks believes in responsible lending and only provides access to affordable financing options that allow consumers to pay for the care they deserve.

*All loans issued by WebBank, Member FDIC.

About iCreditWorks

iCreditWorks leverages innovative technology and mobility to deliver an omnichannel platform experience that provides access to a wide range of “point-of-sale” (POS) financing products, empowering consumers to take control of their financing . The first-of-its-kind iCreditWorks native mobile app delivers a simple, seamless, and secure financing experience that redefines the consumer journey.

To learn more about the Company, please visit www.icreditworks.com.

iCreditWorks

Rich groves

SVP – Professional Affairs

(201) 450-4268

rich.groves@icreditworks.com

View original content to download multimedia: https://www.prnewswire.com/news-releases/icreditworks-announces-the-addition-of-the-truezero-installment-loan-to-its-broad-point-of -sale-product-suite-301525136.html

SOURCE iCreditWorks

]]>
iCreditWorks Announces Addition of TrueZERO% Installment Loan to Extensive Point-of-Sale Product Lineup https://canonprinterhelpdesk.com/icreditworks-announces-addition-of-truezero-installment-loan-to-extensive-point-of-sale-product-lineup/ Wed, 13 Apr 2022 17:21:00 +0000 https://canonprinterhelpdesk.com/icreditworks-announces-addition-of-truezero-installment-loan-to-extensive-point-of-sale-product-lineup/ “Today’s consumers demand simple, responsible and transparent loan products”, said Stephen E. Sweeneypresident and founder of iCreditWorks. “Many deferred interest products are misunderstood by consumers and we are committed to providing a better financing experience. The TrueZERO% is a transparent 0% interest rate product that sets the new standard in low cost lending. the consumption.” […]]]>

“Today’s consumers demand simple, responsible and transparent loan products”, said Stephen E. Sweeneypresident and founder of iCreditWorks. “Many deferred interest products are misunderstood by consumers and we are committed to providing a better financing experience. The TrueZERO% is a transparent 0% interest rate product that sets the new standard in low cost lending. the consumption.”

Offering consumers a clear path to repayment, the TrueZERO% installment loan is unique in a market where deferred interest loan products and revolvers are prevalent. By selecting a TrueZERO% installment loan, a consumer’s loan principal balance is simply divided into 12 equal monthly installments with no accrued interest.

“TrueZERO% represents the continued expansion of point-of-sale products offered through the iCreditWorks platform,” says Cristian Mandachescu, Chief Risk Officer. “We are committed to empowering consumers to say ‘YES’ to their treatment, by providing access to a suite of installment loan products that helps everyone find an ideal and affordable financing option.”

The TrueZERO% installment loan product will be offered by all healthcare providers participating in the iCreditWorks credit program. TrueZERO% represents the newest addition to the lending products offered by iCreditWorks, which also includes standard installment loans and “interest-free” incentive loans up to $20,000. iCreditWorks believes in responsible lending and only provides access to affordable financing options that allow consumers to pay for the care they deserve.

*All loans issued by WebBank, Member FDIC.

About iCreditWorks
iCreditWorks leverages innovative technology and mobility to deliver an omnichannel platform experience that provides access to a wide range of “point-of-sale” (POS) financing products, empowering consumers to take control of their financing . The first-of-its-kind iCreditWorks native mobile app delivers a simple, seamless, and secure financing experience that redefines the consumer journey.

To learn more about the Company, please visit www.icreditworks.com.

iCreditWorks
Rich groves
SVP – Professional Affairs
(201) 450-4268
[email protected]

SOURCE iCreditWorks

]]>
How an installment loan can affect your credit score https://canonprinterhelpdesk.com/how-an-installment-loan-can-affect-your-credit-score/ Sat, 05 Mar 2022 18:28:00 +0000 https://canonprinterhelpdesk.com/how-an-installment-loan-can-affect-your-credit-score/ NEW YORK – March 5, 2022 – (Newswire.com) iQuanti: Installment loans allow you to borrow money at a fixed interest rate and pay it back in fixed monthly installments of principal and interest. You can use them for a variety of purposes, such as refinancing debt, financing a home improvement, or building an emergency fund […]]]>

NEW YORK – March 5, 2022 – (Newswire.com)

iQuanti: Installment loans allow you to borrow money at a fixed interest rate and pay it back in fixed monthly installments of principal and interest. You can use them for a variety of purposes, such as refinancing debt, financing a home improvement, or building an emergency fund quickly.

If you’re working on building or repairing your credit, knowing how these types of loans can improve or hurt your credit score is essential. Let’s take a closer look at how an installment loan can affect your credit.

1. Applying for a loan can hurt your credit score slightly

When you apply for an installment loan, some lenders will do a thorough investigation, which means they will formally review your credit rating and background. These challenging surveys damage your score a bit. However, as you increase your score over time, Hard Requests do less damage each time you get one. In addition, serious inquiries disappear from your credit report after two years. When they fall, your credit score may rise.

While it can be difficult to find installment loans without a credit check, many lenders will only conduct an informal inquiry during the approval decision process. Soft credit checks will not affect your credit score and will only be visible to you.

4. Making payments on time can boost your score

Two of the main factors used to calculate your score are your payment history and the length of your credit history. For this reason, making payments on time each month can add up significantly when it comes to improving your score. Likewise, missing payments can hurt your score, so try to make all your payments on time.

2. Adding the loan to your credit mix can improve your score

Your credit composition is an important factor in determining your credit score. It looks at the number of credit accounts you have opened and their diversity. By taking out an installment loan, you increase the number and diversity of your credit accounts, which can help boost your score quite quickly.

3. Paying off credit cards with the loan can improve your score

Credit utilization is another factor used to calculate your credit score. It measures the amount you borrow on your revolving credit accounts (credit cards and lines of credit) against your credit limits on those accounts. So if you get an installment loan to pay off your credit card balance, you could improve your score by reducing your credit usage.

The bottom line

Installment loans can impact your credit in several ways. The serious initial investigation hurts your score slightly, but you can easily offset that damage by making timely monthly payments. Plus, adding the loan to your credit mix and using it to reduce credit card debt could provide another credit boost. Overall, be sure to only borrow what you can afford to repay to reap the benefits of installment loans.

Notice: The information provided in this article is provided for guidance only. Consult your financial advisor about your financial situation.

press release service
by
Newswire.com

Primary source:

How an installment loan can affect your credit score

Partner Content URL:

https://www.newswire.com/news/how-an-installment-loan-can-affect-your-credit-score-21649358

]]>