Guaranteed Payday Loans

Guaranteed payday loans are advertised everywhere but there is one problem. Beware. There is no such thing as a guaranteed payday loan. Bad credit is OK but you still must qualify in order to be considered. Having a job with a steady income is one of the requirements but you are still not guaranteed to get a loan. Payday loans are regulated in every state. Some ban them outright while others set restrictions on loan amounts, number of outstanding loans, interest, fees and penalties. So if you live in a state like Georgia where payday lending is illegal, you couldn’t even get a payday loan let alone guaranteed.

Payday loans is good news for millions of Americans with poor credit ratings with little to no other credit. Traditional credit options such as bank options and credit cards aren't available for people that are going through bankruptcy, foreclosure and other things. This can be a difficult situation when you need money to pay the rent, utilities or buy food. It can be difficult to live within a budget when unexpected expenses come up.

There are many reasons why people may need quick cash. Sometimes, mothers are left alone when their husbands suddenly decide to leave. They may need financial help to take care of their children especially if they're not receiving any child support. People get behind on utility bills and will get shut off for non-payment. You can also use a payday loan to pay for repairs if your car breaks down. This will really benefit you if your car is the only transportation you have to get to work or other places you need to go. Medical emergencies are something else you may need quick cash for.

Payday loans are made to help people who need short term cash right away. You simply apply for amounts between $100 and $1000 online or an in-store lender. Cash is typically deposited by next business day after approval. Repayment periods are anywhere between two to four weeks. These loans should be used only when it's absolutely necessary. Don't take advantage of the easy availability and only borrow as much money as you need to make sure that you'll be able to repay the loan. You don't want to cause yourself more debt. If you are unable to repay the loan on time, one thing is certain. Lenders and collection companies are pretty much guaranteed to come after you to collect. Always borrow responsibly.