Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr Planning for an emergency is one of the smartest decisions that you can make in life. However, many people simply can’t set aside the money that they should, especially when they are living paycheck-to-paycheck. At some point in life, you may need to apply for a loan. ” How To Apply For Installment Loans “ Setting Aside Emergency Savings The best advice when it comes to an emergency is to already have extra money set aside to take care of it. Many experts say that you should try to have at least three months’ worth of your personal monthly expenses in a separate account. Start off by setting aside as much of your paycheck per pay period that you can. Build on that amount until you have enough to cover an emergency situation. Remember, don’t use the money for anything else, like a vacation or shopping spree. It’s for emergencies only. Applying for a Loan With a Less Than Stellar Background When you are dealing with a poor credit score, you may not be able to apply for a loan at a traditional lending place, like a bank. Even your personal bank will likely say no to a loan application if your score is not to their liking. If this is the case, installment loans can be the best way to go. Installment loan lenders will not require a good credit score, and the chances of being approved for one is much greater. Why Apply for a Loan? There are numerous reasons why consumers turn to installment loans for help. Many people aren’t able to keep their emergency savings fund full due to unexpected expenses, so an actual emergency situation can be a nightmare. Some of the reasons why people apply for installment loans are listed below: •Car repairs •Major appliance repairs •Medical bills •Prescription costs •School loans •Utility bills •Rent or mortgage •Car loans •Funeral expenses It is important to point out that lenders do not need a reason as to why their applicant needs a loan. No matter what the reason, installment loans in Idaho can be a good idea. The First Step to Getting a Loan It’s easier than ever to get a loan when you can do it all online. In order to be approved for installment loans, you must be an adult. You will also have to show that you have a steady paycheck and an active checking account. The company will provide you with a simple form to fill out which will ask you those questions. You’ll also need to give the company some personal information, such as your email address and contact information. Once this information is filled out, you simply need to click send to send it back to the company. How Will I Receive the Loan? If your application is approved, the loan will be directly deposited into the checking account you provided on your application. This usually only takes less than a business day to happen. Once the cash is in your account, you can spend it however you want to. There are no restrictions on the ways that you can use your installment loan. The Difference Between Payday Loans and Installment Loans Many consumers believe that these two types of loans are the same, but they simply are not even close. A payday loan company will want their money back by your next payday, which could be as soon as one week. If you cannot repay the money, along with the high finance fees, you will be forced to rollover the loan. This will cause additional finance fees you will be required to pay. This isn’t the case with installment loans in Idaho. You’ll have up to 10 months to repay the amount given to you. You’ll also be able to take out a larger amount. Borrowers can also pay their loan off early if they wish, which will reduce the amount of finance charges they will have to pay overall. To qualify for an installment loan, borrowers will have to prove that they are residents of Idaho. Choose an Installment Loan Today When money emergencies happen, you may not know where to turn. Don’t struggle when you don’t have to- let an installment loan help out. They are fast, easy to apply for, and even easier to repay.