Installment Credits is not a direct lender. The company provides free loan-connecting service. The customers can submit their loan request on the website, thus expressing their agreement to get connected with the third-party lenders participating in the online network. Upon the loan request approval, the customers will be contacted by the direct lender who discloses the loan terms, fees, APR, etc. Submitting the online form the customers agree that their information will be shared with the third parties. InstallmentCredits is not competent for the lender-customer negotiations.
The loan approval is not guaranteed by the company. The decision on the customers’ loan requests is in the lenders’ competence. Submitting the form on the site the customers thus permit the participating lenders to verify their information as well as do credit checks.
Late loan payments can result in extra fees and collection activities. Non-payment of the taken loan can cause collection activities. The inquiries referred to the loan terms and renewal policies must be addressed directly to the lender.
The Installment Credits practices and policies comply with the federal Telephone Consumer Protection Act, Fair Lending laws and Truth in Lending Act. The customers are under the protection of the Fair Debt Collection Practices Act that is enforced by the FTC. The lenders participating in the network follow the states’ laws and federal regulations.
According to the specific laws, certain loan types may not be available in some of the states. The list of the states may be changed without notice.
The website may contain links to external websites which are out of the company’s responsibility.
APR disclosure. The APR is a rate of interest on the total amount of a loan. It can vary and depends on the loan term, amount, the timing of payments, etc. According to the laws and regulations in the certain states, the APR may be limited. The lenders must present the APR and other loan terms to the customer before making the agreement. Installment loan APR may vary from 6,63% to 225%. APR for personal loans is typically 4,99%-450%.