Guaranteed Installment Loans for Bad Credit
Finding guaranteed installment loans for bad credit can be next to impossible because many (if not all) direct lenders tend to use some type of credit check method, and there are no guarantees of being approved. While the lenders might not use what is referred to as a hard credit check, they will in fact try to verify certain things like employment and income in order to determine how likely you might be to repay a loan, should they allow you to borrow from them.
In other words, guaranteed installment loans for bad credit is a bit of a myth that some lenders try to use to attract more applications. Things like no credit check installment loans is another example of terms that some lenders also use for the same reason. The idea of guaranteed installment loans is actually kind of funny, because any lender wouldn’t be in business that long if they guaranteed approval and would allow just anyone to borrow without checking whether they might be repaid.
But if you think about it, then it shouldn’t come as a surprise that approval, or a guaranteed installment loan, is a bit of a tale. If you were the lender, you would most likely want to make sure you would be repaid, and do your own checking of some kind to try and reduce the risk of when someone borrows from you.
Guaranteed Installment Loans for Bad Credit Direct Lenders
Those with bad credit are attracted to the idea of a guaranteed installment loan from direct lenders, and besides the above explained myth of why the idea of approval approval doesn’t exist, since most if not all lenders do some kind of credit check. But another consideration when applying for an installment loan is that if you visit a storefront, and you have bad credit, you have less chance of being approved. The reason being, you are applying with one brand. When you apply through Personal Money Network, we work with multiple lenders, and most of their own unique way of evaluating whether to loan to you. This means that by applying through us and the lenders we work with, you have a much better chance of being approved since you would be putting your application through us to several lenders. Unless you have really bad credit, we often find a lender for many if not most applicants. But no matter what, saying guaranteed installment loans is definitely misleading and not truthful, since there are always some not approved.
Installment Loans Guaranteed Approval
As previously explained above, the idea of installment loans for bad credit with guaranteed approval is more fiction than anything, and a way that lenders try to attract applicants with bad credit. In other words, they don’t exist because most if not all lenders do some type of credit check to try and make sure what you borrow will be repaid come the due date. The entire idea of installment loans with guaranteed approval is actually kind of entertaining if you think about it.