Guaranteed Personal Loan Approval in 3 Easy Steps

No matter how much you earn each month, it would not be surprising if there comes a time when you find yourself in short supply. Of course, if you are able to consistently spend less than you make, in theory you should never run into situations where you are out of money.

Unfortunately, reality is not that simple.

Why It Is So Easy to Run Short on Cash

Everybody’s situation is unique. However, the 5 main reasons you may be running low on money include:

1. You do not make enough money to cover even basic expenses.

2. Your paycheck is fine – when it comes, that is. But payments are inconsistent, and some months it is better than others.

3. You make a really good income, but something unexpected comes up suddenly that pushes you into the red.

4. A recent large purchase such as an automobile or a home has eaten into almost all of your available savings, and things are extra tight right now.

5. A friend or family member has asked to borrow money and you are trying to help, but you do not have the extra cash on hand.

Your Options for Getting Money Fast

When you are faced with any of these “money emergencies,” you need to get access to cash quickly. These include:

* borrowing from a rich friend or relative

* taking on a second job

* taking out a loan by putting up something of value as collateral

* taking out a personal loan without the need for collateral

Common Challenges with Getting Approved for a Loan

If you have explored all of these options thoroughly and have concluded that taking out a loan is your best bet, you may have one major concern: what if you do not get approved? It is common to be concerned about not getting approved for a loan if you have bad credit, have been rejected for a loan recently, or if you lack a checking account.

How to Get Guaranteed Personal Loan Approval

To get a guaranteed personal loan approval, follow these 3 steps:

1. Decide how much money you need to borrow. This requires striking a tricky balance: on the one hand, you do not want to borrow more than you need, since the interest you pay on this loan will depend upon how much you borrow. On the other hand, you want to make sure you borrow enough money since you do not want to have to go back in a week or two and take out another loan. Rule of thumb: figure out how much you need, then add 20%.

2. Contact at least 7 lenders before making a decision. This is important: you are probably going to be tempted to just take the first loan for which you get approved. Resist the temptation! If you contact at least 7 lenders, it is a sure thing that one of them will offer you a lower interest rate and overall better terms than the rest. Spend the extra 15-30 minutes to make sure you select the right lender.

hint: before contacting them, make sure the lender is one who will guarantee a personal loan, even if you have a bad credit score. They will tell you this up front.

3. Choose a lender whom you can contact via online or phone. While you may be most comfortable calling your lender, I urge you to consider the online option. It is quicker to get approval when you contact them online. And, you will hit your “quota” of 7 lenders before you know it.

Being in need of money is a problem only if you don’t know where to look to get a personal loan with guaranteed approval.