Get Back On Track With An Installment Loan

Written by Chloe Harwood

NSF—those three little letters can strike fear into the hearts of Texans. It’s scary to receive the message you have insufficient funds. You only need to get the NSF error once to realize you never want to see those three letters again. That’s why you’ve created a budget to help you settle you debts by payday. Unfortunately, your budget will only hold up to a schedule of regular bills with consistent (and anticipated) due dates. As soon as any of your expenses go off script, you’re left wondering how you can pay for all of your responsibilities.

A loan is an obvious answer, but when NSF is a legitimate fear, this financial product brings with it its own problem. It can very easily replace your bills as the source of your financial stress, as its repayment due date becomes an impossible objective. That’s why it’s so important to discover online installment loans in Texas. They provide you with the cash that you need without trapping you in short terms you can’t manage.

An installment loan is similar to the average small dollar cash advance, in that it typically doesn’t exceed $1,000 in size. It’s repayment terms, however, is where these two financial products deviate. Rather than requiring full repayment of theadvance by your next payday, its repayment is spread out over several portions (of varying sizes) that coincide with multiple paydays. This flexible schedule gives you a little breathing room. A smaller portion of your paycheck goes towards your loan each pay period, which means more of your pay is left over to cover your immediate needs. The alternative, wherein you have  to pay for it all at once, may not leave enough of your paycheck to cover these monthly necessities.

Due to their flexible terms, installment loans are naturally a more responsible way to borrow, but that doesn’t mean you can accept any advance regardless of its source. In order to protect your finances, you must confirm your loan is coming from a reliable lender that abides by all lending laws. In Texas, they must be a certified Credit Access Business. Official accreditation can ensure they offer reasonable fees, rates, and conditions. You can usually find this information on their website, which should be easy to navigate and offer access to uncomplicated information regarding their processes and products.

You’ll need to spend some time online in order to find these things, but in the end it’s worth it. When you can find an installment loan with more forgiving repayment terms, the threat of the NSF message becomes a distant one. You’ll be able to pay for your new obligations and the loan’s repayment without overdrawing yourself.

About the author

Chloe Harwood