Payday loans are instant, short-term, and high-interest rate loans which may help you while having an emergency.
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What is a Guaranteed Payday Loan?
Guaranteed payday loans mean, you are always approved for the loan. Lenders hoping that their loan will be successful, make this offer.
There are two possibilities:
1. Guaranteed Approval For Payday Loan With Meeting The Criteria:
Though the criteria defined for eligibility vary from lender to lender and state to state, still, there are general criteria that most lenders follow.
· Have A Good Credit:
Since the lender is investing his money, he will always look at his revenue along with the principal amount. If you have a good credit score, this will satisfy the lender to invest in you, ultimately giving approval for the loan.
· Loan History:
If When applying, it will help you to acquire instant payday loans online guaranteed approval if you have an excellent credit history and a history of repaying prior loans on time. A statement of other but acceptable lenders can also help regarding this. Find out here how you can raise your credit score. Lenders will review your prior loans to determine whether you made on-time or late payments or other mistakes.
· Have a regular income:
A regular income is what makes the lender satisfied. This means you have the ability to repay after a month. For unemployed people, it will get harder to have guaranteed approval. Moreover, the amount of income will also affect your approval. For instance, if your income is too less to repay, you have chances to be denied.
· Good debt-to-loan ratio:
This means if you have many loans on your head, it will show you are stuck, and guaranteed approval will not be given. On contrary, with a good income and no other pending loans, you will be eligible for guaranteed approval.
2. Guaranteed Approval For Payday Loan Without Meeting The Criteria:
· Having A Guarantor:
This comes to mind, what to do if you are not meeting the above-mentioned general criteria. Some lenders do help everyone and give guaranteed approval even if you are not meeting the criteria.
So if you are unemployed and running out of balance, all you have to do is to sign an agreement. You must have an extra person who guarantees the loan agreement. Moreover, you must have a legal age to sign the agreement.
So if you are able to repay the loan without any disturbance, you can go with a person and sign the agreement for guaranteed approval of instant payday loans.
· Having Valuable Assets:
In case you have some valuable asset or property, you can approve that and make a security agreement based on that. This way you don’t need to have a guarantor co-sign the agreement. This is enough for guaranteed approval of instant payday loans.
CONCLUSION:
Guaranteed approval for payday loans requires certain criteria that must be fulfilled. If you are an unemployed person and your credit is running out, you must have a person who guarantees you.
