Some people do not believe that guaranteed bad credit personal loans exist. That is silly. They are real, they do exist, and just about anybody can get one. Very bad credit, even bankruptcies, should not prohibit anyone from getting the cash they need. And the process is completed rather quickly.
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Tell you what, answer these five questions:
1) Do you earn an income of over $1,000 per month?
2) Can you prove this income for the previous three months?
3) Are you clear of any bankruptcy proceedings?
4) Do you have a current checking account in good standing?
5) Are you over 18 or 21 years of age, depending on state?
If you answered yes to all five questions, guess what? You can get a bad credit guaranteed personal loan. (You need not worry about bankruptcies that have been discharged.)
Folks With Bad Credit Need Loans, Too
In some establishments, these loans are also called payday loans or cash advance loans. They have been especially structured to advance anyone who needs it the money they require. Unexpected expenses do pop up. These loans have become a useful financial tool for folks with bad credit. On the face of it, people with bad credit need a financial boost once in while, just as folks with good credit.
Understanding Guaranteed Bad Credit Loans
Before you rush or go online to start applying for such a loan, you need a bit of understanding about how the whole process works.
Here are three important points:
1) No credit check is required!
2) No collateral is required!
3) No cosigner is required!
The first point has to be a great relief to many. No wide-eyed looks from anybody as they pull up your scores is necessary. No credit check means another thing – every time you apply for credit rating based loans, it puts a ding on your credit report. That cannot happen because no one fiddles with your report.
The second point, not needing collateral, is certainly helpful, especially if you do not have anything of immense value. If you have a house or a car, there is no way they can be taken from you should you default.
The third point, not needing a cosigner, sure saves awkward discussions with friends or family members you might be inclined to ask. No one will have to pick up the loan should you default.
Landing Your Guaranteed Bad Credit Personal Loan
Go online. Punch personal loan into your browser and you will be awarded with scores of lenders. Pick and choose among them to find the best interest rates and repayment terms. These loans can range from $100 to $1500 depending on your income.
Before you go shopping, you will want these five credentials that most every lender will require:
1) Bona fide picture I.D. – Driving license, military I.D., passport, etc.
2) Proof of a bank account – Bank statement or other bank papers.
3) Proof of residency – Utility bill with same address as your I.D.
4) Proof of employment – Pay stubs or bank statement.
5) Social security number – If no card, have an official document.
These documents can be faxed or scanned and sent to your lender. Online application is so easy. It will be a matter of less than an hour before you are assured the money is on the way to your bank.
Do Be Careful
Be on the lookout for fraud. Many unscrupulous webmasters have made very cunning sites, even duplicates of sites belonging to accredited lenders. Check the Better Business Bureau online listings for ratings and customer feedback on your prospective lender. Be careful about using your loan wisely and be careful about paying it back according to the terms of your contract. You did read all the fine print, did you not?