Installment Loans, featured at InstallmentLoans.com, is an online loan matching network.
Connecting consumers who reside within the United States with a network of various online lenders, Installment Loans asserts that they specialize in helping consumers acquire installment loans up to $5,000.
Among the biggest controversy regarding InstallmentLoans.com would be their declining consumer-trustability and reemerging pattern of complaints amongst consumers.
To learn more regarding the community consensus revolving around InstallmentLoans.com and WHY you should avoid their network we invite you to read our unbiased review.
What is InstallmentLoans.com?
InstallmentLoans.com operates as an online loan matching portal for consumers seeking online installment loans.
Detailed in the footer of InstallmentLoans.com would be the following, “THE OPERATOR OF THIS WEBSITE IS NOT A LENDER, does not broker loans to lenders and does not make loans or credit decisions.”
In lenience terms, Installment Loans claims that they play no role in the loan acquisition process outside of connecting prospective borrowers with online lenders.
While InstallmentLoans.com makes it clear that their network specializes in installment loans, according to some consumer feedback consumers were matched with pay day lenders – many of which required outrageous APRs upwards and well-above 700%.
How does InstallmentLoans.com Work?
In order to be deemed eligible, Installment Loans does require a few stipulations that must be met:
- Must be a US citizen
- Must be 18 years of age, or older
- Must not be in active bankruptcy
- Must have steady income and a checking account
InstallmentLoans.com does not reference a minimum or a recommended credit score.
The application process is said to be cost-free while the loan approval verdict takes up to a handful of minutes to receive after starting the application process.
If approved, you will be connected with the lenders that approved your application while some lenders approve and deposit funds as soon as the next business day.
**It is important to remember that the lenders supported through Installment Loans may conduct credit inquiries to better determine your loan eligibility, which may affect your credit.**
Last but not least, InstallmentLoans.com is not available in New York or to New York borrowers due to interest rate limits under New York law.
Supported payment methods fluctuate depending on the lender.
While a checking account is required, and is oftentimes the most utilized method, Installment Loans also states that some lenders may offer other options such as Western Union, wire transfer, Money Gram, or PayPal.
Bear in mind that just because Installment Loans does not possess any fees that does not mean that your lender may not charge all relevant fees such as interest rates, fees to start the loan, late fees, returned payment methods, early payment fees, or any other applicable fees associated with your loan.
Who is Behind InstallmentLoans.com?
According to the Better Business Bureau, InstallmentLoans.com is owned and operated by Installment Loans, L.L.C.
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|Loans up to $1,000|
|Loans up to $5,000|
|Loans up to $10,000|
Matching the same physical address as their website, Installment Loans is said to be headquartered from 4001 S Decatur Blvd, STE 37, Las Vegas, NV 89103-5800.
Telephone: (855) 544-5363
As a result of a failure to respond to 3 complaints filed against their business, the Better Business Bureau has issued Installment Loans, L.L.C. with a “F” rating.
Installment Loans encourages prospective applicants to contact their customer service team with any questions they may have at email@example.com.
Installment Loans Reviews
The community feedback surrounding Installment Loans is not supportive, nor enticing.
As we have already made known, the Better Business Bureau has issued Installment Loans L.L.C. with a F rating.
According to TrustPilot, InstallmentLoans reflects a 3 out of 5 star rating out of 38 reviews while shared below are the 3 most relevant reviews we found regarding InstallmentLoans.com.
“Best place to get the loan,they ask to make the insurance ,and once I made it I got my loan with in 30 minutes”
“This company is a scam. My company is an internet watchdog and their license is revoked in LAs Vegas, the address doesn’t match the filings, and the principals are affiliated with IBM. There is an open investigation and thousands in unpaid invoices from our company and many others. The principals are now known and we are in the process of filing criminal charges. DO NOT USE THIS COMPANY OR ANY SIMILAR!!”
“I was looking forward to being presented to Loan Companies who specifically offered Installment Loans not Pay Day. Well I got Pay Day Loan people so it was dissappointing”
InstallmentLoans.com was a privately registered domain that was created on May 6th, 2001 through the Amazon Registrar, Inc registrar.
According to SimilarWeb, InstallmentLoans.com reflected a global rank of 1,111,983 with a US rank of 219,835 as of April 29th, 2019.
Due to Installment Loans relatively poor web-rankings, it is evident that the site does not receive much incoming visitor traffic.
Is InstallmentLoans.com Trustworthy?
Given the reoccurring consumer complaints over the past couple of years we do not feel that InstallmentLoans.com is a trustworthy loan matching network.
InstallmentLoans.com Review Conclusion
InstallmentLoans.com is not a reputable loan matching network according to market intelligence reports while their lack of consumer feedback only further solidifies our viewpoint that Installment Loans cannot be trusted.
Reflecting a F rating at the Better Business Bureau while failing to work solely with installment loan lenders as implied, Installment Loans has doomed the credibility of their financial services platform due to poor oversight.
Do yourself and others a favor by avoiding the shady Installment Loans loan matching network!
Outcome: InstallmentLoans.com should be Avoided!
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