Guaranteed Payday Loans

While the term payday loan doesn’t have any specific meaning, it is generally meant for a short-term loan or a high-interest loan. The loan amount is usually $500 or less, typically due on the next payday. Depending on the law of your State, payday loans are available through online payday lenders.

To be precise, there are no guaranteed payday period loans. However, while it may seem like you’re about to get one, it is still advisable to pursue other loan options to get the money you want unless lending is urgent.

Are you behind on your electricity bills, rent, or credit? Or is there any other urgent medical or personal expense that you have to meet? In such cases, you can get GUARANTEED PAYDAY LOANS NO MATTER WHAT your credit score is or what your financial conditions are. Also, other alternatives are handy as well.


A few standard features are meant for little amounts, and some states also set specific limits on the payday loan size. $500 is a standard loan limit, although the limit also ranges above and below a certain amount.

  • These payday loans are typically required in a single payment on the next payday to the burrower or when the income has been received from another source like Social Security or pension. Typically the due date is around two to four weeks from the date the loan was made. The specific due date must be set in the payday loan agreement.
  • Loan proceeds can also be provided through check or cash, electronically gets deposited into the account, or gets loaded on the prepaid debit card.
  • For loan repayment, you would generally have to write a post-dated check of the total balance, such as fees, or provide the lender with authorization of electronic debit of funds through the credit unions, banks, and prepaid card accounts. When you cannot repay the loan on or before the due date, the lender can also cash a check while electronically withdrawing money through the account.
  • Some loan features can also be different. For example, some payday loans often get structured for getting paid off in a lump-sump pay.

A few states permit the lenders to “renew” or “rollover” loans when it also becomes due, so the consumer pays only the unpaid amount, and the lender also increases the loan’s due date. In a few cases, payday loans can get structured, so they’re repayable in different installments over a long period.


Payday loans are a savior for people living month to month without many credit options to back them up. Without the availability of these loans, it is pretty difficult for the low-income person to handle unforeseen expenses.

  • Simple and Quick: Payday loans are quick loans, i.e., they often get approval and get disbursed in a few minutes. Thereby you don’t need to go through any hassle or lengthy waiting time.
  • Minimal Formalities and Documentation: In many cases, the main requirement has a personal bank account with a few financial and personal particulars. A Payday loan doesn’t require extensive documentation such as other loan processes.
  • Avoid credit checking: As these short-term loans get availed often through the working poor people, there are no collateral or credit checks. Regardless of their financial background, almost anyone can easily benefit from this type of loan.


While the same reasons that make payday loans appear like good options can pull the burrower into a nasty debt cycle.

  • Unreasonably high-interest rates: While interest rates per day can seem like a manageable thing when it gets annualized, these turn out at a 400% annual percentage rate of interest (APR) or more. Sometimes the APR also goes to 9000% for quick loans. Let’s put that into perspective – as typically credit cards have got an APR of around 9 to 30%! By now, you might have gotten an idea about the hefty interest rates.
  • Debt Trap: If you’re not able to pay the loan next month itself, the spiraling often incurs some additional penalties and costs. It often makes it impossible to repay the credit going ahead, making the debt probability a real thing.


Second chance payday loans are short-term loans meant for people struggling to get a finance lender due to past poor finances. Anyone can apply for a second chance payday loan from a direct lender and get loans even with a poor credit history. These loans are money lending for burrowers who constantly get denied loans in the past through other lenders, like traditional ones. It majorly happens when an individual possesses a poor credit score as it is the natural behavior of lenders not to take the risk of providing funds for poor credit. The second chance payday loans through direct lenders provide “high-risk burrowers” with the chance of loans without worrying about the poor credit history.


Payday loans, as well as second chance payday loans meant for people with poor credit history, are available from a lot of direct lenders at stores or online. Also, no teletrack is there for second chance payday loans as no credit checks are conducted for issuing funds. It is because a lot of direct lenders don’t consider credit scores to issue a burrower with loans and also consider some other factors like stable income. However, with an online lender, there are benefits like zero paperwork, no travel requirement, prompt disbursal process, etc.


Most state laws have set up a limit for the maximum amount for payday loan fees which ranges from $10 to $30 for the borrowed $100. Conventional two-week payday loans with a $15 per $100 fee also equate to a yearly percentage rate (APR) of around 400 percent. When comparing, APRs through credit cards range from around 12 percent to 30 percent. In many states permitting payday lending, the loan cost, fees, and maximum loan amount have also been limited.

Some states don’t have a payday lending facility as these loans are not authorized by the law of the State. Also, sometimes in some states, payday loan providers decide not to do business at the regulated fees and interest rates of those states. To determine whether your State is regulating or not allowing payday lending, you must get info from the state attorney general or the state regulator.