Guaranteed Unsecured Personal Loan

Guaranteed Unsecured Personal Loan

A guaranteed unsecured personal loan is a very fast option with high interest rates and a number of important things to consider.

There are still some requirements that apply to almost all of these deals, though for the most part they are pretty basic. You need to be at least 18 years old, a citizen of the country you are applying in, and you need to be employed. You also can not be in the middle of bankruptcy proceedings, if things have already been discharged or dismissed you are ok.

Now that you've decided you qualify, it is time to look at your options.

Since you are looking for a guarantee, you likely have bad credit. These deals will offer you the convenience of not having to shop around only to be repeatedly declined and wasting your time. The downside is that you really pay for this convenience. A guaranteed unsecured personal loan will have a higher interest rate and probably other fees that will make it so you aren't eligible to borrow as much as you would be otherwise.

A lot of customers do not care and feel the convenience is worth it, and that is fine. Others do have some other options to consider.

First of all, get a copy of your credit report and do correct any mistakes that you can. You can wait six months to a year and try to improve your credit before applying for any financing by getting a secured credit card and paying everything on time. This will greatly improve your options.

You can also offer the lender more of a guarantee that they will be paid back. You can do this by finding someone with better credit to cosign, or by offering some form of collateral like real estate, a vehicle, jewelry, or other collectibles of value This option will take a little longer to go through, however.

Whatever you decide to do, be sure to shop around! I recommend finding five companies to compare rates and find the best guaranteed unsecured personal loan.