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Just about everyone has gotten installment loans at one point or another. Think you haven’t? You think that only means short term installment loans, or payday loans right? Well guess what Shirley – if you've ever got a loan that you pay back in installments, you've gotten one. If you've financed a car, a house, or a college education, you've borrowed installment loans. That's all that's meant, even installment loans for bad credit – it means you pay it back with more than one payment. Chances are that if you've ever been borrowing money in any form whatsoever, it's been with installment loans of some sort.
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