Do I Need Good Credit To Get Installment Loans In Racine, WI?
Installment loans in Racine, WI, allow you to borrow money fast for financial emergencies, such as medical bills, home repairs, and unexpected travels. However, you may worry that getting a Racine installment loan may be complicated by your bad credit.
In this guide from Wisconsin Auto Loans, Inc., we will explain whether an installment loan is one of your bad credit loan options. We will explain the relationship between your credit score and installment loans. We will also go over the process of getting fast installment loans in Racine, WI.
What Is An Installment Loan?
Before you can understand whether you can get poor credit installment loans, it’s vital to understand what these loans are. A signature installment loan is an unsecured emergency loan that lets you borrow up to $1,500 in rapid cash by providing your signature.
When signing for an installment loan, you are agreeing to repay the loan amount in fixed monthly installment payments. Unsecured installment loans let you borrow money without needing collateral and give you a couple of months to rebuild your finances to repay the loan.
Do I Need Good Credit To Get An Installment Loan In Wisconsin?
During the Racine installment loan approval process, we will do a soft credit check to determine how much you can get approved for. Not everyone will receive the maximum loan value of $1,500, and your credit score gives us a good look at the state of your finances.
However, just because we look at your credit score does not mean we will deny you loan approval based on poor credit. You can get bad credit installment loans at Wisconsin Auto Title Loans, Inc., just at a lower loan amount than if you had good credit.
While you will not get approved for $1,500 with a credit score below the national average of 715, you can still get approved for a signature installment loan in Racine, WI, at a lower loan amount. You can borrow a couple hundred dollars to help you afford your emergency.
Eligibility Requirements For Racine Installment Loans
Getting unsecured installment loans in Wisconsin involves meeting a few requirements. Rest assured, our eligibility requirements are easier to meet than those you will find in traditional banking institutions. We keep your requirements simple to allow borrowers in need to get the rapid cash necessary to afford their urgent costs.
The following are the required items for installment loans in Racine, WI:
- Driver’s license or state-issued ID: This will verify your identity and prove you meet the age requirements. Borrowers in Wisconsin must be at least 18 years old to get approved for personal loans.
- Proof of income: You can use your most recent pay stub or earnings statement to verify your income. How much money you make will also go into determining your loan amount, as we will only loan an amount of money we feel you can pay back.
- Checking account statement from an account open in your name: We will use this statement to check your credit and get an overview of your current financial state.
Where Can You Get Signature Installment Loans In Racine?
Are you looking for bad credit loan options in Racine, WI? Wisconsin Auto Title Loans, Inc. can help with our fast installment loans in Racine, WI. Racine County residents in southeastern Wisconsin can get the financial help they need through our installment loans.
You can find our Racine store location at 2500 Durand Avenue across the street from Cham-Tap. We are open every weekday from 10 am to 6 pm. You can also visit us on Saturdays from 10 am to 5 pm.
How To Qualify For Installment Loans In Racine With Poor Credit
We have a simple process for getting installment loans in Racine, WI. We only require borrowers to complete a few easy steps. You can start the process online and get direct help from a loan representative on the phone afterward. You can then bring the required items to our Racine store location to complete the process in less than 30 minutes.
The following are the steps involved in getting unsecured installment loans in Wisconsin:
- Fill out our online loan form
- Speak to a loan representative on the phone about loan details
- Bring your required items to our Racine store location
- Have your required items verified
- Finalize the installment loan process by signing our loan forms
- Receive your rapid cash the same day or the next business day
FAQs
How does installment loan repayment work?
Borrowers repay installment loans in fixed installment payments. These payments occur over the course of a few months. How many installments (and the cost each month) are negotiated with our loan agent during the in-person meeting.
Does applying for an installment loan affect my credit score?
We only do soft credit inquiries, which the major credit bureaus do not flag. We do not report our emergency loans to credit bureaus, so borrowing money will not affect your credit score.
When should I get an installment loan in Racine?
Racine installment loans should be for emergency situations, such as overdue bills, medical expenses, and home repairs. You should consider them a last resort and not use them for luxury purchases.
Get Bad Credit Installment Loans In Racine, WI – Borrow Up To $1,500 Today!
Although we will check your credit score, you can still get Wisconsin installment loans with poor credit. Our approval process is simple and only requires borrowers to meet a few requirements. You can start the process online and get approved in person in less than 30 minutes.
Ready to apply? Fill out our quick online form to start the process.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.