What are installment loans?

Answer An installment loan is a type of short-term loan that the user pays back with a fixed number of equal-sized payments. The person who received the loan is put on a schedule to pay back the loan.When... Read More »

Top Q&A For: What are installment loans

Can I consolidate installment loans?

Lenders often consolidate installment loans, but you must meet their credit qualifications. Lenders will take into account your credit score, credit history, employment history, income and collater... Read More »

When were installment loans introduced?

Installment loans first appeared in about 1850 to finance the purchase of sewing machines. These loans represented one of the earliest forms of consumer credit in the U.S. Furniture dealers were al... Read More »

What is the difference between FHA loans& rural housing loans?

An FHA, or Federal Housing Administration, loan is a type of government-backed loan designed to help low income buyers secure financing. A USDA, or United States Department of Agriculture, loan is ... Read More »

What Loan company will take over my federal student loans when the loans are in default?

When your federal educational loans are in default, you have several options:You can repay the loan in full.You can negotiate a new payment plan with your lender.You can "rehabilitate" your loan.Yo... Read More »