It happened to us to be in the situation of needing some extra cash to cover some expenses before receiving the paycheck! But we are not the only ones – it happened practically to everyone we know. The COVID pandemic made things even worse. Many people focus on insecurity it brings for months to come. Hence, it is quite reasonable that many people end up needing some extra money for different things before they get a paycheck. In that situation, you can apply and get guaranteed approval for payday loans. Are you wondering how and where to apply? We consulted experts and compiled all of their answers and tips in this text.

What Are Guaranteed Payday Loans

Firstly, when we are talking about the concept of a guaranteed payday loan, we have to clarify some things. So let’s say that one of your friends told you about getting money from lenders this way and that it was super simple. Several months later, the water pipe in your home breaks, and you need to call a plumber urgently but don’t have any budget for emergencies. Then you remember your friend telling you about no credit check loans. You start searching online, and you notice that many lenders offer guaranteed loans even for people with bad credit. You apply thinking that you will surely get it. But then you get rejected! Why? It is because there isn’t such thing as a guaranteed loan. Lenders advertise themselves with these kinds of statements “We are offering bad credit payday loans with guaranteed approval! “ But in reality, there isn’t a person or a company that will give you money just like that! Indeed, many people with bad credit scores do get approved for payday loans. But this doesn’t mean anything is guaranteed.

How to Apply for Guaranteed Payday Loans Online?

Generally, applying for guaranteed payday loans from direct lenders is a fast and easy process. If you are wondering about eligibility, it is essential to say that there are no rules. Eligibility depends on the applicant and the data on the form. It will take only 5 minutes to fill the form. Here are other documents that you need to provide when applying for guaranteed payday loans online.

  • Proof that you are at least 18 years old.
  • Proof that you are a citizen or resident of the USA.
  • Provide accurate information for your full name, date of birth, and home address.
  • Valid ID, passport, or another document that proves your identity.
  • Proof of employment or steady source of income.

Can I Get Bad Credit Payday Loans with Guaranteed Approval?

People mainly wonder whether they can get a loan when they have a bad credit score. We all know that a bad credit score won’t get us instant approval payday loans in the bank. But when people see that payday loans are guaranteed, they become more relaxed and convinced that lenders aren’t interested in their credit. It is partially true. As you have seen, there aren’t guaranteed payday loans, no matter what. Every lender will check your documents, etc., to see if they can approve the loan. Their interest is to gain money, not to lose it. Hence if they assess that you are not trustworthy, the loan will not be approved. But it is true that payday loan lenders don’t care about your credit history. They are more interested in your ability to pay back the money they lent to you within the agreed deadline. Hence they check your employment status and your income. Also, even if they perform a check, usually it is a soft credit check.

Are There Any Alternatives to Guaranteed Approval Payday Loans?

Now, when we establish that there is no such thing as a guaranteed payday loan, it is time to see whether there is an alternative. In general, the best alternative is not to borrow money at all. However, we know that this is easier said than done, so we are going to mention some alternatives to payday loans.

  • For example, you can ask for an advance on your paycheck through an app. Some companies provide this kind of service without asking for interest. The app tracks the hours you worked through a timesheet or by your location and enables you to borrow the money you earned.
  • Besides that, you can contact credit unions. They are offering loans with much lower interests than most payday loan lenders. This is one of the best options when you don’t need the loan super urgently. Credit unions look at more than just your credit score. They also check your situation in the company, the stability of your income and credit history. Then they assess whether you are eligible for a loan.
  • Another option is to borrow from a lending circle. This can be a group of people that you know. In general, this requires a long-term commitment because lending circles usually raise money each month for someone. However, be prepared that you will not have the money instantly if you go through a lending circle.
  • You can ask for a guarantor loan. It is a type of unsecured loan that means that a second person will be held responsible for paying off the debt if you can’t do it yourself. In the way how it works, it resembles the concept of having a joint bank account. It is an option if you have poor credit history and you can’t get accepted for a standard personal loan.

How to Increase Your Chances for Loan Approval?

People tend to get overwhelmed by the number o options, and they start applying in different places. That is not advisable. When you want to increase your chances of getting guaranteed payday loans, you should apply only in one place online. You will anyway have access to various lenders. Also, provide accurate information. Keep in mind that lenders check your income and employment status as well as other data. First, there is no need to lie. And second, even if you do, it will not do you any good. Also, use referral services because many lenders see your request, which will increase your chances of approval. Also, bear in mind that the best is to apply on weekdays. Many lenders have fewer employees working on weekends and holidays. Some don’t work at all.

FAQs

How to Get a Guaranteed Payday Loan?

As we already mentioned, you need to apply online when you want to get a payday loan. The process is fairly simple – you need to fill out the form and file it along with other requested documents. Most lenders are asking for proof that you are 18 years or older, proof of residency, your employment status, and income.

Do Lenders Run Credit Check for Payday Loans with Guaranteed Approval?

It is essential to remember that there are no guarantees you will get a loan when you apply for it. However, most lenders do not run a credit check. They are, in general, not interested in your past financial situation. They check your current employment status and income because they need to make sure that you can repay the loan they approved.

Where Can I Get a Guaranteed Payday Loan with Bad Credit?

Most lenders will approve a loan even if you have a bad credit score. As we mentioned, there aren’t interested in checking your credit history. However, it is important that you provide them with accurate information.

Is It Possible to Get Guaranteed Approval Payday Loans Same Day?

In short, yes. Most lenders check your information pretty quickly. Generally, you get information that your request is approved within 15 minutes. The money arrives within 24 hours.

Common Uses For a Loan
 Major Purchases
Major Purchases
 Home Improvements
Home Improvements
 Medical Expenses
Medical Expenses
 Special Occation
Special Occation
Maintainance & Repair
Maintainance & Repair
 New Appliances
New Appliances
 Car Emergencies
Car Emergencies
 Rent
Rent
 Taxes Owed
Taxes Owed
 Utility Expenses
Utility Expenses
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