Payday Loan - Home Page
Yes, it is possible. Your bad credit history need not deter you from borrowing money to meet your urgent requirements. If you satisfy some minimal criteria you can get a guaranteed payday loan to get you out of your financial crunch.
The lender pays out the loan based on the following criteria. He just verifies the information furnished by the borrower. Once he is satisfied, the loan is credited directly into the borrowers account.
Usually every lender before giving a loan ensures that the borrower has the source and capacity to pay off the loan he is taking. He conducts a thorough survey of the credit history of the borrower before giving the loan. The borrower has to submit few documents to prove his credit worthiness. Only if the lender is satisfied that the borrower will not default on repayment that he gives the loan. And these loans are usually secured loans given against some collateral. But this is not the case with guaranteed payday loans. The borrower has to meet only the above mentioned criteria to avail this loan. Credit worthiness of the borrower is not an issue. This is because a guaranteed payday loan, even though unsecured, is given against the assurance of the next paycheque. It is a loan till payday. The loan is a short term one and has to be paid back with the next pay.