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Installment loans are repaid overtime and have a schedule of payment arrangement made for the person who is borrowing the money. There are normally about two payments that are made on these types of advances or loans. The length of loan can be as long as 30 months or as less at a couple of months. This depends on the lender and the person borrowing on the loan. Loans are good to have and can help establish credit for your future. You need to pay them back as soon as possible, so that your credit score can be raised and will increase your chances of borrowing again for some item you may want that is more valuable or larger. Some other larger and assets can be a house, car or refinancing of a current loan.
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