Qualifying for a Guaranteed Unsecured Personal Loan

by Anita Vasquez

The process for getting a guaranteed unsecured personal loan isn’t really all that complicated. It goes something like this:

1. Have a pulse (because almost anybody with a pulse can get one).

2. Be willing to pay high interest rates and high fees (how else are they going to protect their loan without securing it with collateral?).

3. Fill out a quick form online, in a payday loan store, or over the phone, giving all your relevant personal facts (including your social security number).

4. Show some proof of income.

5. Deposit the money in your bank account.

And that really is about it if you want a guaranteed loans for bad credit with no fee, which is a huge mouthful by the way.

Now, the real question is can you afford to be borrowing money like this, and what got you into this situation in the first place?

I know most of us think that your average seeker of unsecured loans no credit check is a semi-scummy low income type, but that’s a completely unfair generalization. I’m sure that every day everybody from soccer moms to surgeons find themselves at the counter of a payday loan operation asking for a short term loan just to get them through to their next paycheck.

What about credit score?

Usually, guaranteed loans for bad credit no fees are intended for people who’ve had some problems in their borrowing history, whether that means late payments, judgments, bankruptcy, or whatever. People with better credit typically have access to more traditional – more appealing – financing tools, like credit cards.

And it really all comes down to money management. If you’re so short on cash that you have to pay outrageous fees and interest rates, you need to go back over the last six months or so of your financial life and ask the question “What got me here?” Be honest with yourself so you can make sure this instant guaranteed personal loan is your last.

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