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Loans come in all different forms and sizes, from student loans to installment loans and even bad credit loans. When applying for a loan, you’ll want to consider the loan’s interest rate, payback period, terms, and fees. Borrowers can receive loans from banks, governments, credit unions, and online lenders. 

Rates, terms, and conditions will vary based on your overall financial situation. Most lenders will review your credit report and credit score to determine whether or not they believe you can repay the loan. When you’re issued a loan, it’s a debt you’ve agreed to pay back with specified terms. 

What is an Installment Loan?

January 8th, 2021

There are many forms of credit and financial products out there, but the installment loan is a common one.

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The information contained herein is provided for free and is to be used for educational and informational purposes only. We are not a credit repair organization as defined under federal or state law and we do not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit. Articles provided in connection with this blog are general in nature, provided for informational purposes only and are not a substitute for individualized professional advice. We make no representation that we will improve or attempt to improve your credit record, history, or rating through the use of the resources provided through the OppLoans blog.

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