Guaranteed Loans: Such Stuff as Dreams Are Made On
Are guaranteed loans just wishful thinking?
There are no such things as guaranteed loans. (You kind of knew that when you asked.) But if you’re hoping to get cash fast, it’s guaranteed that Personal Money Store can almost always find a lender to grant your wish.
There are no guaranteed loans, but payday loans are easy to get
Although there are no guaranteed loans, payday lenders generally do run fast and easy credit checks. You can usually get a payday loan even if you have bad credit or no credit at all. You can usually get a payday loan despite having financial problems. You can get a payday loan if you’ve filed for bankruptcy, had your wages garnished, lost your home or car in a foreclosure or repossession, or are getting a divorce.
Payday loans are probably the most easily accessible form of credit available today. At Personal Money Store, your application is very likely to be approved even though there are no guaranteed loans.
You must be a sane adult with a regular income
To get a payday loan, you usually must have a job with a regular income and you must have been employed for the minimum time prescribed by the lender. You must have legal capacity to enter into a contract, so you cannot, for example, be a minor. Nor can you be insane. (Insanity can be a problem for people who have reached the age of majority but still believe in Santa Claus, the Easter Bunny, and Guaranteed Loans.)
You must be a sociable person with a bank account
If you want an online payday loan, you have to have a bank account because online payday lenders deliver loan funds by electronic transfer. You usually have to know at least two people to get a payday loan, because lenders usually require personal references, although they generally don’t contact the references before making the loan. (References can be a problem for hermits, recluses, and other shut-ins, even when they have regular incomes and bank accounts.)
You mustn’t have too much of a good thing
Depending on whether your state has a “cooling off” law, you may not be able to get a payday loan if you’ve recently had too many in a row. Many state legislatures have determined that if there were were such things as guaranteed loans, too many people would become too deeply mired in payday loan debt all too quickly.
Some payday lenders obtain Teletrack reports
Some lenders use teletrack reports to make credit-risk assessments. Teletrack is not a traditional credit bureau, and unlike a credit check, a Teletrack check won’t show up on your credit report. Teletrack provides analyses of consumer credit histories based on information obtained from payday loan companies, furniture companies, vehicle financing firms, high-risk consumer finance companies, credit card companies, banks and credit unions, as well as public records.
Teletrack doesn’t make credit-worthiness decisions, but it provides information to payday lenders who may then use it to approve or deny loan applications. Teletrack is considered a consumer credit reporting firm and is governed by the Fair Credit Reporting Act.
You won’t get a loan if you don’t apply, guaranteed
So you see, there are no guaranteed loans, although you’re very likely to get a personal loan when you apply at Personal Money Store. If you need to borrow money now and know that you can pay it back on your next payday without having to borrow again, then apply today. Chances are your wish will be granted right away.