Guaranteed Unsecured Loans

You will see plenty of advertisements for Guaranteed Unsecured Loans, and this is indeed an attractive proposition, especially if you have been turned down for loans in the past. However, unfortunately it is simply not possible to guarantee that a loan application will be successful, because the loan provider needs to ensure that you will be financially able to pay them back, and that you have a history of repaying credit. Lending without a credit check (which is the only way in which you could be offered guaranteed unsecured loans) means that the lender would have to compensate for this lack of security in other ways.

If you have a bad credit rating through missing payments, having CCJs filed against you or signing up for a debt management programme and you have been offered guaranteed unsecured loans, treat the offer with caution. Any company that offers guaranteed unsecured loans, especially where bad credit is apparently not an issue, would charge you extremely high interest rates if your unsecured loan application is successful. Apart from the fact that he terms of the loan may not be favourable, you do not necessarily want to be financially linked to a loan provider that is clearly lending irresponsibly.

Find out more about Unsecured Loans today!

Do Guaranteed Unsecured Loans Exist?

• Unfortunately, guaranteed unsecured loans should be viewed as a 'too good to be true' offer.  If a company is willing to lend to you knowing nothing about your credit rating, they are not a reputable loan provider and you should steer clear.
• Although the guaranteed unsecured loans are offered with 'no credit check', quite a considerable amount of information is required from you, including your employer's name and address, your bank details and details of all other money you owe and to whom.  This means that if you were to miss payments on your unsecured loan, the loan company would be able to contact you at work or at home to demand repayment.