To mitigate the risks that are attached to these loans, creditor end up applying huge interest rates
on bad credit loans guaranteed approval decision.
Not exact matches
Fred Upton, a Republican congressman from Michigan and chairman of the Energy and Commerce Committee, put his finger
on the larger issue facing governments worldwide at a recent hearing: «Was Solyndra just one
bad bet by an administration rushing to claim
credit for the first
loan guarantee, or is it the tip of the iceberg?»
A borrower enjoys less restrictive terms
on a
bad credit personal
loan in forms of lesser interest charges and longer terms while a lender has a
guarantee to recover the
loan proceeds in case of default by confiscating and selling pledged assets.
No online direct lender can
guarantee approval
on a debt consolidation
loan to someone with
bad credit rating.
Of course, getting approval
on a personal
loan for
bad credit is not
guaranteed by good intentions, and if the size of the
loan is large, then it may be necessary to provide some kind of collateral.
If you have no
credit or slow
credit, or items like bankruptcy, charge offs, delinquent accounts, derogatory public records, judgments, liens, divorce, foreclosure, repossession, or other
bad credit accounts listed
on your
credit report, you still qualify for a
guaranteed personal
loan.
Whatever the reason, the fact that
guaranteed approval of
loans with
bad credit practically exists comes as something of a relief when such strict criteria is insisted
on by some lenders.
To get a
guaranteed approval of
loans with
bad credit the applicant needs to provide proof of income, but the approval is really based
on trust that repayments will be made.
A
guaranteed approval
bad credit loan is a
loan that is approved instantly and gives you the instant cash you need
on a short term basis.