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Best Bad Credit Personal Loans guaranteed approval
23 Jun 2018

How To Find The Best Bad Credit Personal Loans guaranteed approval

When you’re in a financial strait between the rock of emergency expenses and the hard place of a damaged credit score, where do you turn for help?

Let’s say you can’t wait long periods of time to get a “yes” or “no” answer on approval for a loan, and you need a loan with a more generous principal and repayment deadline than a payday loan would allow. In that case, bad credit personal loans GUARANTEED APPROVAL are likely your best option.

Most people can get approved for online personal loans instantly and can have the badly needed cash in their account within one or two business days. All you need is a verifiable income sufficient enough to make repayment of the loan reasonably manageable to you – and you’re likely approved.

How Do Bad Credit Personal Loans GUARANTEED APPROVAL Work?

If you’re looking for bad credit personal loans, guaranteed approval is one of the most important factors. Technically, no loan is 100% absolutely guaranteed regardless of all variables. But, many online personal loan lenders guarantee approval given that certain very basic criteria are met.

So long as you are 18 years old or older, have a valid US bank account, can verify your regular income, and don’t have other personal loans or fast cash loans still outstanding, you’re virtually approved already.

These types of loans do not base approval on your prior credit history but instead on your current income. That is, so long as you are financially able to repay the loan, you will almost certainly be approved for it.

What Kind Of Loan Approval Process Is Involved?

One of the best things about online personal loans is that there isn’t a lot of paperwork and “rigamarole.” You have enough stress in your life already, and you don’t have endless hours to spend on a loan search and application process.

Thankfully, online personal loans for bad credit can be applied for in a matter of minutes by filling out a few simple forms. Only essential information is asked for, and your financial and personal information is kept secure when you use a reputable company.

Within seconds, if not instantaneously, you will get the approval message. With very few exceptions, it always comes back “approved” rather than “declined.”

How Do I Get The Cash I’m Borrowing?

When you’re in a financial pinch, you can’t afford to wait around for days and weeks on end for the money you want to borrow. You need it as fast as possible, and you need to be able to quickly access it once it arrives and use it where it’s needed most.

Personal loans answer all of those needs. Your cash should arrive in your bank account within one (or at most two) business days. And once it’s there, you can immediately access it and spend it in any way you wish. That’s totally different from many other types of loans where the money comes slow, is held by someone else, and then you have to spend each dollar in a prescribed manner.

Do I Need Collateral To Get Approved?

No. With online personal loans, even for bad or no credit applicants, you do NOT need any collateral.

Your “collateral,” in effect, is the fact you have a steady income that enables you to repay the loan. That, of course, means that the lender will only approve you to borrow an amount that fits your income level.

But, so long as you qualify for the loan (and most do), you don’t have to worry about putting your home or car or any other personal property on the line.

Do I Need Good Credit For Approval?

There are some personal loans out there that would require you to have a certain credit score. But a very large number of them do not. You can easily locate numerous bad credit personal loan lenders online who will not make your credit score a criteria for approval.

You might have to pay a somewhat higher interest rate based on a credit score. And it’s possible the amount you can get approved for, with some lenders, might be less based on credit history. But even here, you will find many lenders where these issues aren’t even a major concern, if indeed a concern at all.

Finally, note that there are many (not all) bad credit personal loan providers who will not even run a credit check on you during the loan application process. It’s preferable to find a no-credit-check lender since running a credit check can actually further hurt already damaged credit.

How Does Loan Repayment Work With Personal Loans?

Personal loans are also called “personal installment loans” because you repay these loans in regular monthly installments, rather than in one lump sum as in payday loans.

Your lender will ensure you can be expected to afford the monthly payments based on your income level and regular monthly expenses. After all, it’s in both the lender’s and borrower’s best interests that repayment plans are affordable and realistic.

How Do I Find And Compare The Best Online Personal Loans?

Finding even a handful of bad credit personal loans and comparing them in a meaningful manner can be a very difficult and time consuming task, especially if you’re not familiar with the ins and outs of finances and financial “lingo.”

But if you use an online search engine and loan-matching service like Bonsai Finance, the process is sped up greatly.

Instead of picking through random websites you happened to come across one by one, hoping you happen to encounter the best deal – Bonsai enables you to rapidly search literally hundreds of loan offers at the click of a button.

You search based on your own selected criteria. And you can narrow your search as you go along until you’ve found the few very best matches that stand out from the crowd. At that point, you can compare loans and lenders more in-depth and/or get some help from a knowledgeable Bonsai staff member to help make the final decision.

The bottom line is this: there are too many lenders, too many loan offers, and too many variables to search for personal loans in an unsystematic way if you want to know for sure you found the best available offer and if you want to find it fast.

Why Choose Bonsai Finance?

We at Bonsai Finance have much to offer loan-searchers. First of all, we have an extremely powerful, fast, and wide-ranging search engine. You can customize you search much more with Bonsai than with some others. And you’ll be much more likely to find a close match.

Second, our staff is knowledgeable in the market and the finances related to what you’re searching for. And we keep ourselves helpful and available to the maximum extent possible.

Third, we have been in the loan search and matching industry for many years now. We understand the needs of those searching for personal loans and other types of fast cash loans. We have adjusted our approach to meet those needs and make the process as easy as possible for you.

If you are looking for bad credit personal loans GUARANTEED APPROVAL that can get you through a financial bottleneck, Bonsai Finance is in the business of helping you find one that gives you the best terms and features available online.