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Although the US economy is undoubtedly making a steady recovery and there are a lot more job opportunities than there were this time last year, most families are still finding it hard to keep their pocket books balanced. Recent surveys have shown that around 20% of the American population still live in fear of losing their job. What is more, an even higher percentage fear having to deal with unexpected expenses coming at them out of the blue.

Because of the financial downturn which has already continued in the US for more than four years, families who had to face it have seen their net wealth as well as their property assets  depreciate. What is more, chances are that they will not have changed the family car for a number of years as well as all the major household appliances. They're all probably well aware of the fact that all of these items (such as fridges, washing machines, freezers, stoves, computers and air conditioners) all have a  planned lifespan and there is no guarantee that one or all of them won't suddenly break down and require either major repair or replacement.

With little in the way of savings, a lot of people find themselves unable to meet the requirements of banks and traditional institutions. If it wasn’t for the option of payday installment loans, things could probably get even more complicated.

Payday loans can provide all the answers to the problem of families needing a reasonably sized finance solution. While the interest rates are usually higher than those offered by a bank, the procedures involved in being awarded a loan are a lot more straightforward. In most cases, customers can find out if they are eligible or not almost instantaneously. Better still, if all goes well, the money can be deposited in their accounts in a matter of hours. And it goes without saying that communication between the lenders is carried out online and in total confidentiality.

Payday loans companies never contact employers or ask for guarantors or references. All that is required to apply for the loan is a copy of a recent pay slip  and some form of valid photo identification. All of these can scanned and sent through the Internet with the application without even having to leave your house.

The difference between payday installment loans and regular payday loans is that the person taking out the installment loan can request for payments to be spread over two, three or even more paydays in order to make repayment amounts considerably lower and more manageable. Given the amount of daily expenses and the possibility of emergencies arising, being able to stretch the repayment period can make all the difference for the borrower. Depending on the size of the loan, various repayment options are available.

So if you’re one of millions of Americans living in fear of the unknown, you can rest a little easier in the knowledge that if an emergency does arise, you can apply for payday installment loans to keep the wheels in motion until things take a turn for the better.