Whenever a financial emergency comes up, you need to know that you can get some money fast to solve it as best as possible. If the amount of money you need to use exceeds that of your personal savings, you might need to seek out a loan.
Unfortunately, getting a loan approved might not come so easy for some people, especially students and people who have bad credit. There are many lenders that will turn you down for many reasons, so it is a good idea to keep an open mind so that you don’t end up being disappointed when you get rejected.
On top of that, you may have to invest a lot of time in doing your research so as to find out as much as you can about the lender and your credit score. To make it slightly easier for you to get started, we’ve created a list of quick and safe ways you can use to get a guaranteed loan.
Seek out an advisor
If you’re lucky enough to have someone in your family with a financial career, you can ask that person to give you some pieces of advice. Guaranteed loans for bad credit aren’t very easy to find, and so it might be better for you to seek out the opinion of someone who knows the ins and outs of the whole process.
A financial advisor will analyze your credit score and history and let you know whether there are certain errors you need to address by getting in touch with the creditor or the credit bureau.
Things might not be as grim as you might have imagined them to be. Besides, someone with expertise in terms of loans can help you put together all of the documentation you require.
Apply for unsecured loans online
If you have done your homework and have found a trustworthy lender, you can safely use their online system to get your guaranteed loan. This method is by far one of the most convenient and efficient ones we have found. Moreover, it takes little to no time.
However, you do have to be prepared to share most of your financial information. While it might take just ten to fifteen minutes to apply for a guaranteed loan, at least on some lenders’ websites, you have to provide them with the loan reason, your personal information, as well as any data they might ask you in terms of your employment. You will also be required to share your driver’s license info, as well as your social security number.
The best thing about applying for a loan using this method is that lenders can reach a decision in a timely fashion, allowing you to get your money quickly. In the end, that’s what you are after if you need to solve a problem in your life right away. In some situations, you might have to wait for three to five days before finding out whether your loan is approved or rejected.
Make a joint application or seek out a guarantor
If there is someone that might be able to help you in getting your loan approved, don’t hesitate to ask for their help. Often times, students ask their family members to act out as guarantors, which means that they will be the ones who will repay the debt in case the borrower misses a payment.
Moreover, it’s worth noting that, with the help of a guarantor, you can even get more money, provided that the guarantor does not have a bad credit score. Besides, interest rates for a person with good credit will be lower, which means that you won’t have to pay a huge amount of money back.