Tag Archives: approval
Guaranteed Unsecured Loans, A Good Idea?
Guaranteed unsecured loans are meant to speed up the process of finding approval for people with a bad credit history, but are they a good idea?
The first thing you need to understand is that lenders offer you interest rates based on the level of risk the lender feels they are taking.
The conditions of these offers are already a higher risk, without the added promise of approval for all. See, a secured deal gives the lender some form of collateral in the case that you fail to make your payments, and because the lender has this assurance they offer you, the customer, a lower interest rate. But, because we don’t have any kind of collateral, your interest rate goes up.
Then you add into the equation your bad credit history, which means the lender is taking a much greater risk that they will not be repaid. This will raise your rates a great deal more.
And then on top of all that when you add in the promise of approval for everyone for guaranteed unsecured loans. This means that people with worse financial histories than what you have are approved, and the interest rates offered typically reflect that risk the lender is taking.
Of course, if you have terrible credit and no time to try and seek out approval and receive multiple rejections, then this price may still be worth it for you. If you do manage the payments well and make them on time each month this will even help you build up your credit history for the future.
However, if you have the time, you can still try and apply at more traditional lenders. If you have a job that you’ve had for a while and have lived in the same area for a good period of time these things will help establish you as a stable customer. It will also help if you can explain why you’ve had financial problems in the past, such as medical bills, divorce, or other experiences, and some things you’ve done to help rebuild your credit since then.
If you can find a more traditional offer you will still have high interest rates, but lower than what you’ll find with guaranteed unsecured loans.
Guaranteed Payday Loan: Cash in 1hour or less
Are you in need of some fast cash and do you need to get it within about an hour or two? Serious financial emergencies occur when you least expect. Whether it is a forgotten bill or car repair, you need money now. Who will be willing to help in these urgent situations? Most people would choose a bank as their first option. Going to a bank for money is possible but there are long lines and even longer approval times to receive money for a loan. A guaranteed payday loan is the most vital source of immediate income available to you.
5 minute Application
In order to apply for a payday loan you must fill out a form online. The application process is simple. Unlike bank loans, that require a lot of information and copies of pay-stubs, a payday loan lender will ask you basic personal questions. This is includes your employment status and your bank information. The lenders have made the system completely clean and foolproof that will enable them to give you a very fast approval. The internet makes this process easy because you do not have to fax any of the information or documents to apply. Once your application is approved the funds will be available in your checking account the same day or the following day.
But you must meet certain requirements.
You must meet the general requirements for any cash advance. The applicant for the loan must be 18 years old or older. The loan is a legal agreement between you and the payday loan lender. Secondly, the borrower must be a resident of the US. Next, you must have a steady job or source of legal employment. This means if you have a job that pays weekly, bi weekly or twice a month you are a candidate for online payday loan. Lastly, a checking account is needed, after approval the money will be wired into directly into your account. You may apply for payday loans, even if your source of regular income is a check from social security or a pension fund.
Cash in 1 hour?
Guaranteed payday loan provides cash availability immediately. From the comfort of your home or office you are able to apply and receive fast approval. There are no long lines like the bank will have. Also, there is no need to search for pay-stubs or bank statements the lenders receive all the information needed through the info you provide in the form. An online process that take 5 minutes or less on your part will help you in your financial crunch. The approval time normally takes 2 hours.
3 things to watch out for.
There are thousands of sites ready to hand you and application but very few telling you what to watch out. There are 3 things that will help your evaluate the online lender agreement. The reason you must understand, is during the repayment period people can dig a hole of debt. First thing, understand what the loan is and what it is for. They are for our emergencies. Second, understand all the fees associated with the loan. Many people are frantic need for money and overlook everything. Luckily, for you have read this article. For the last step I go into full detail on my site.