Sharing is caring!
Suffering from a bad credit score can be difficult as no lender then wants to show the interest towards you and lend you the money. Is that what you also think while gettingno guarantor loans? Is that what is always said to you? Have you started to believe the same?
If yes, then this is the perfect time to change your thoughts and give them a new turn. If you are wondering why, then here are some myths that you have blindly believed in and now is the time to stop that –
Myths About No Guarantor Loans You Should Stop Believing
Collateral is required..?
Often people say and think that these loans involve collateral on a compulsory basis. But is that true? Undoubtedly ‘no’. As the name suggests, these loans provide the borrower the money with no involvement of guarantor or collateral. You can get the loans for bad credit with no guarantor easily without any collateral.
No reliable funds..?
One says and the other believes blindly. Many people hesitate to opt for these loans as according to them this source of money is not reliable. If you try to find the truth out then you will get to know that it certainly isn’t true because these loans are affiliated and approved by FCA which makes them totally reliable.
No confidential information..?
Privacy of your information is something that is important for you. On a similar end, it is important for the lender as well to keep your information safe and private. In case, you are thinking the opposite, you are sadly mistaken and losing your chance to arrange funds for your needs.
Extra approval charges..?
Need a loan urgently but you think it might involve some extra charges. This is one of the most basic myths that people believe in and get their chance for loan approvals off their hands. In reality, you do not need to pay any kind of extra charges for faster approvals. You can get instant payday loans from direct lenders with no extra cost.
Only for small amount loans..?
Just like other myths about loans, this one is also believed by the people blindfolded. It is thought that approval to the loans is only possible when the amount applied is small. Or, in other words, the approvals are meant for people who require small amount loans. But, this is not what the truth is; you can get these loans even when you want a big amount of money.
A credit score downfall..?
When you get a loan, your credit score automatically goes down. That is what this myth says. On a contrary, opposite is what actually happens. When you get a loan and you repay it on time, your credit score starts rising instead of falling down. If you are worried about your credit score, do not forget that getting a loan doesn’t affect a credit score.
These are certain myths that stop people from opting for loans even when in need. If you are also someone believing in same things spoken by some and adopted by all then you should stop now as these are just fictional stories being created by people all around. Take a second to find the reality behind and then make a right choice.