Sandra T. Alvarez (25 years old): I am a finance specialist at maybeloan.com. Sandra T. Alvarez (25 years old): I am a finance specialist at maybeloan.com. Maybeloan.com is an online service that aims to offer a variety of financial offers to our customers. No matter your credit history, we will assist you in making better financial choices. We're delighted to make your loan process simple and quick without any lengthy paperwork. The web is full of advertisements that promote installment loans with receipts. But the activities of private lenders are not entirely legal and not enshrined in the legal rules. These private lenders are often criminals or bandits. When they have an apartment or a car as collateral, they provide an installment loan with high interest. Then, threats, intimidation and collection begins. It is therefore better to work with a licensed financial institution when you need to borrow cash in installments. Their activities are also controlled by the law. What exactly is an installment Loan? Credit and installment - they are very different, even though they perform similar functions in which the first - the contract is executed in direct contact with the seller purchasing goods in the store. They are more often in the network of jewelry salons and home appliances. The cost of the purchase is broken down into components. Each month, money is taken from your card at the amount you have specified. The second - involves borrowing money and direct contact with the bank. The term installment loans originated from the people, and eventually were consolidated. It is a short-term loan that can have multiple payments. As a rule the time frame of the loan is between one and five months. If a substantial amount is needed, individuals can borrow money through banks. This entails an average bureaucratic background. A worker requests an entire package that contains details about their official job and the amount of salary and the time at the last job. Also, for approval, you will need to promise property or provide a guarantor. The process of evaluating the application could take several days. The bank is not able to work with applicants with bad credit, defaults that are open or other financial problems. Unfortunately, most applicants do not have an ideal credit history and are therefore not eligible for getting an installment loan from a bank. There is an option for such people: you could apply online for an installment loan to your card, with minimal requirements and more human terms. For those who require only a small amount of money, it is better to make payments on the internet with microcredit companies. This service provides these credit conditions. Click on the button "Apply for a loan" to proceed to the procedure of requesting a loan. If you require assistance, get in touch with our experts via the chat online or request a callback. We'll get back to you as soon as we can and help you through the process.