Broadly speaking, electronic signature payday loans are usually considered as high risk personal loans that are short term, intended for solving your short term financial needs between paychecks. Most of the unsecured payday lenders will offer 400 dollar payday loans that are repayable within 30 days but because of the short repayment period, there are many people who end up defaulting on their loan obligations and end up mired in severe debt. If you feel that you need a long term personal loan with no collateral needed, you should consider monthly payday loans that you can pay back by installments.

Unsecured Loans With 90 Days To Pay Back

By using a 90 day payday loan with installment payments, you are able to stretch the entire loan over a longer period by making smaller repayments every month instead of having to pay in full at one go. This will lighten your financial burden considerably and with disciplined payment to the installment loan lenders, you can avoid the heavy penalty charges that are imposed on people who default on the repayment.

Installment Payday Loan Lenders

While guaranteed payday installment loans are more expensive, due in part to the longer repayment term, they are still a better choice, especially for those who do not earn a fixed salary every month and their income tend to fluctuate on a month to month basis.

However, from observations from the payday loan industry, bad credit payday loans with monthly installment payback are not readily available and this could be due in part to the state regulations on them or perhaps not considered commercially viable for loan lending companies that deal with private loans.

Best Way To Borrow Money With Bad Credit

The most commonly available are those instant small payday loans for 90 days and 100 day installment loans with low payment. Which means that 6 month installment payday loans are not the norm as compared to other types of long term monthly loans, and the most you can get is probably a personal loan with 120 days to pay back. Therefore, if you have to borrow money and pay back a loan of 5000 dollars in less than 6 mths, you should create a self-list to detail the amount of money that you need and whether it is possible for you to pay off the money within 3 months.