One Hour Loan Review

One Hour Loan ReviewOne Hour Loan says that they offer the best rates for installment loans, which is a major reason why you should go with them. But do they really have the sort of loan that can help you out, or will this just make your problems worse.

You don’t know for sure what you’re going to get approved for unless you apply and find out. They say you can get an approval answer in as little as 90 seconds, but from our experience in the industry it is going to take a while longer before you get a full approval and a confirmation that the funds have been released. But it is nice to get that initial pre-approval to ease your mind and know that the money is around the corner.

With so many consumers looking for alternatives to payday loans, it’s no wonder that more and more lenders are beginning to offer installment loans at higher rates in order to accommodate more and more borrowers. What you’re wanting here is a loan that has flexibility as far as repaying the loan goes, and that breaks up the payments into manageable pieces.

One Hour Loan Review – Should You Go with Them?

One Hour Loan has all of their ducks in a row, with a secure server for their application page and a fully online experience. They are providing you with an installment loan, which means you’re going to have smaller monthly payments so you don’t have to keep paying the balance back and loaning the money again and again. This helps keep you out of the payday loan trap.

More Time and Smaller Payments
The reason payday loans are such a problem is that they make you bring back the principal every two weeks which means you can’t keep the money in one place long enough to solve the problem. When you get an installment loan you can use the lump sum to catch yourself back up, and then pay it off over time so it doesn’t cause a bigger problem.

The trick is using an installment loan that doesn’t have any prepayment penalty. You want to be able to pay off the balance whenever you want without having to pay a fee to do so. That way if you come into some cash like from a tax rebate or a birthday you can pay off the remaining money owed and you won’t have to make payments each month.

This is one of the major drawbacks to using a payday loan, and if the numbers make sense you can really change your financial stress levels with an installment loan, rather than adding to the stress with a payday loan. The chances of having to take out another loan when you’ve paid off your installment loan are a lot lower, and your financial emergency should be long since passed when you use installment loans instead of payday loans.

Payday loans simply defer your problem to a later date. You’ll still have the lump sum to pay back with a payday loan which can make it hard to make it till your next payday, causing you to take the loan out again. With an installment loan you just chip away at it over several months.

Keep Above Water
The name of the game when it comes to personal debt is making sure that you have some cashflow available each month. A payday loan takes right out of that cashflow and makes it so you have to keep paying your loan off before you can take the money out again. This can be an additional hassle and make you drive around town on your payday to pay your loans off. With an installment loan it’s a lot less hassle, since you can set up automatic payments and there isn’t any big chunk due at once.

Our Recommendation
One Hour Loan is worth checking out because it is tailored to your individual situation. They’ll want to know how much you make per month and will size that up to your requested loan amount. It’s easy to apply, and they keep a secure connection for 10 minutes at a time before refreshing and establishing another secure connection.

Add Your Own Experience to Our One Hour Loan Review Below

GD Star Rating
a WordPress rating system
GD Star Rating
a WordPress rating system
You May Also Like:

Leave a Comment