Installment Loans in Portland, Maine Explainer

Do you need some quick cash in Portland, Maine? You might want to consider installment loans. These are loans you pay back over a certain period through scheduled payments. Depending on whether you put up some collateral or not, these loans could either be secure or unsecure. They come super handy for different reasons, from buying a car, fixing up your home, to reducing your debt.

In Maine, there's a government office watching to make sure that lenders play fair. The state's Department of Business Oversight makes sure they lay out all the important stuff about the loan terms and conditions. But here are some basics to getting your loan approved: have a solid income stream and a good credit record. Your debt-to-income ratio also gets checking—it's one way they determine if you'll be able to pay back the loan.

As for the loan conditions, they might differ from lender to lender. But you would typically see details like how much you're borrowing, what the interest rate is, over what period you're supposed to pay back, and extra costs if there are any. You're expected to keep up with your payments—which could be monthly or biweekly—until you've cleared off your loan.

Just so you know, not being able to keep up with your payments might attract some extra costs. And if you used something like your car or home as collateral in a secured loan, you just might lose that property.

So there you have it. If you're in Portland, Maine, and need some money you don't have right away, an installment loan could be just the thing. But always remember to check through your loan terms and understand what you're taking on before you make the commitment. Visit zebrafinance to find some of the best installment loans.

You work so hard to pay your bills and it all seems to be just fine. Alas, economic crisis, lockdown, unexpected unemployment, uncertainty came to our life. They steal peace and destabilize life of millions of people in the whole country and world. Many people face an income shortage and struggle with debt burdens.

Installment loans in Portland, ME could be your financial relief

Our company works with installment loans in Portland and offers you a quick resolution for your temporary financial problems. We provide a free consultation and make a financial relief plan together with you. You just need to check through our basic requirements and fill in the application form. Usually, we reply within two working days.

Installment loans in Portland requirements

Please, read attentively our basic installment loans in Portland, ME eligibility requirements:

  • you need to have United States citizenship;

  • you have reached at least 18 years of age;

  • you have a job and have a stable source of income for at least the past 90 days, that we can verify;

  • you have a valid banking account, so we could transfer money to your credit or debit card;

  • you or your relatives, dependents, spouses do not take part in the active-duty military;

  • you do not go through bankruptcy and do not plan to launch bankruptcy procedures.

Also, additional terms and conditions may apply. Feel free to contact us for more data about Portland, Maine installment loans.

Installment loan Portland Clear Communication Policy

We declare and stick to our Clear Communication Policy. We do not hide any information from our customers or staff. Also, we respect your privacy and do not pass your information to third parties. Portland installment loan has no credit check. Before you decide anything, you will see the full list of all fees, variants of card interest rate, monthly payments, total payments, the annual percentage rate, how much you overpay for missed payments, etc. Once more we emphasize, at installment loans in Portland we make no credit check. And for your convenience, you can sign the agreement with us and your bank, so your monthly payments will proceed automatically from your banking account and you will not miss one. 

Our company advantages

For many years our company runs this business. We unite lenders and lending partners. Many customers chоose us because we have such advantages:

  • Clear Communication Policy: As we already mentioned, we keep information clear and open to our customers and staff. Before you agree to anything, we make sure that you understand what for you apply for our services, how you plan to pay for it, how much you overpay for not in time payments, and all-important details and conditions;

  • Affordable monthly and annual rates: We provide the most affordable rates for installment loans on the market;

  • A huge network of lending partners: We connect our customers with an enormous network of lending partners in Portland and all over Maine. Please, see our detailed list of locations.

  • Online access: Every registered customer gets online access to a personal cabinet with all details about the loan, lender, payment sums, payment days, terms, conditions, FAQs, etc. Also, you can use our support team’s help. Just type in your questions and our caring support team will reply to you as soon as possible;

  • Security: We protect your data. We respect your privacy and do not share your data with third parties. Please, see our terms and conditions to get further information.

Want to discuss any issues? Contact us today for a free consultation.

Installment Loans FAQ Portland Maine

  • What are installment loans Portland Maine
    This is a type of credits that allow borrowers to get a set amount of cash and pay it back over a pre-agreed invariable period of time in a regular amount usually established by an organization or person that lends money with the same installments that consist of two pivotal components: the principal and interest rate. It's a great option for those who are in search of financial support for a single costly purchase or covering education costs. The key benefits are the possibility to manage debts online, get rid of the economic burden and stay financially healthy, gain the required amount immediately to deal with a specific situation.
  • Which statement about installment loans is not true Portland Maine
    Probably, lots of myths and misconceptions can frustrate and confuse clients of digital platforms that exist to instantly issue extra funds. Thus, when exploring installment loans, it is crucial to dive into their mechanisms. Thus, borrowers should return equal installments that consist of two loan components, the interest and the principal, while the statement that with these types of loans borrowers can pay the interest first and obtain the proceeds is false.
  • Which of these equations shows how installment loans are calculated? Portland Maine
    There are a few ways to calculate the loan. To discover your monthly payments on credit you can apply the Equal Monthly Installment formula (EMI), entering in the formula imperative numbers (the principal, the interest, and, of course, the total number of payments), or go a more straightforward way and use an online calculator. When it comes to determining the actual loan amount, this amount is equal to the cash price minus any charges and fees that the borrower has prepaid, known as the down payment.