Installment loans for bad credit vs. payday advances While installment loans for bad credit could have higher prices and less-borrower-friendly terms, these loans are not the same as payday advances. Here’s just just how installment loans for bad credit and extremely short-term payday advances vary. Beware: Some loan providers of short-term loans may blur the lines between an installment loan and a loan that is payday. As an example, you may see “installment loans” marketed for lower amounts with payment…