How to Get Approved for A Guaranteed Loan Approvals For Bad Credit?

For individuals who suffer from bad credit, guaranteed loan approval loans provide a short-term aid to meet their financial needs. The only factor that can disqualify one from getting a guaranteed loan approval is an on-going or recent bankruptcy. Nevertheless, if the problem is with regards to your low credit score, you can apply for a guaranteed loan as a way to redeem your damaged credit.

 

bad credit personal loansHow to Apply for a Guaranteed Approval Loan for Bad Credit

What are the procedures involved in applying for a guaranteed loan? There are various ways to apply. Application can be done over the phone, from the lending company’s website or by personally visiting the lender’s office. Most applicants prefer to apply online because it is fastest and most convenient. All one has to do is fill-up an online form, submit and wait for a response for as little as 24 hours.

Can anyone qualify for a Bad Credit Loan?

Is it really easy to get an approval? Technically, the procedures involved in applying for a guaranteed loan are easier than a regular loan. As with other loans, a borrower must be of legal age or at least 18 years old. He or she must also have earnings of at least $1200 or above for the past three months. An active checking account is also required although a high credit score isn’t necessary. Once approved, the borrower can receive his loan in cash the following day via electronic transfer.

 

Consequences of Acquiring a Bad Credit Guaranteed Loan

Yes, application is fairly easy but this doesn’t mean borrowers should take their payment obligations lightly. When seeking for a guaranteed loan approval, an applicant will be required to sign a contract. The rules and conditions of repayment vary between lenders so a borrower must see to it that he clearly understands the terms of his lender. Generally, lenders will automatically debit the repayment amount from the borrower’s checking account if he/she fails to submit payment on time. Other repayment options may apply depending on the lender.

As with any type of loans, consumers are warned not to make decisions in a hurry when looking for a guaranteed loan approval lender. Since getting approved can be done in few, easy steps, the borrower must also take his time researching for the best lender to apply to. There are lenders who provide guaranteed loans that take advantage of their client’s financial needs. Some lenders may impose excessively high interest rates which can only cause a person more serious debt problems.

Finally, always remember that guaranteed loans are not meant as a long term financial solution. These loans are easy to avail but they do have higher interest rates than regular loans. It is best to seek out other possible alternatives before getting this type of loan. If however, you feel that this is the best option for your short term needs, see to it that you’ll be able to make your repayments on time to avoid incurring high interest rates on your debts.


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Elizabeth Roberts

Elizabeth Roberts

Liz Roberts and her team are continuously providing information to people who are ready to repair their credit and improve their credit score. Also NewHorizon.org team strives to empower the homebased and small business owners by bringing information that can help them to manage and grow their businesses. Let our 24+ years of business finance experience help you to get the financing you need! CONTACT US if need financing for your business.

5 Comments
  1. While title loans are an option, and definitely the only option an underwriter or lender of such loans would share with someone in general, there are other options (and one of which is better than the others).

    For instance, a title loan usually will allow you to borrow up to $1k or a hefty percentage of the current re-sale value of the vehicle matching the title. However, to get the loan you have to drive that particular vehicle to their office, they take photos, and you leave the original title with them. DOWNSIDE – People are always messing up and they are prone to lose the title to your car – although no paperwork saying you owe them will be lost. Also, I know of people who received the loan from a company that was not willing to arrange alternate pay dates and know of two people who ended up losing their vehicles to the title company all because the company did not allow payments to be more than 15 days late.

  2. People should be more vigilant

  3. Just saying hello to you all .. Still a bit confused about the goings on here, but I guess I’ll keep poking around.

  4. Another place you can look at is credit loan. They offer payday loans that many people qualify for. These are mostly used for short terms loans to help people in tight situations.

  5. I loved the editorial. It is very interesting. Thank you for the information.

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NewHorizon.org is an independent, advertising supported website. The owner of the site may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. NewHorizon.org has not reviewed all available credit card offers in the marketplace.

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