Warning: guaranteed payday loans do not exist and are almost certainly illegal. Sorry to be the bearer of bad news and if you do find a guaranteed loan, it will be from an unauthorised, illegal website that will be impossible to trust and certainly will not be registered with the Financial Conduct Authority. If you think you’ve found a guaranteed loan on a legitimate site, it will be nothing more than cleverly strung together words as a marketing ploy, but, before you lose hope, there are possibly options for really bad credit histories if you read on because payday loans are high acceptance and generally are known to be a loan for bad credit.

The Citizens Advice Bureau clear this up very nicely for us. They say anyone not authorised by the Financial Conduct Authority that is lending money, is doing so illegally and as a result classified as a loan shark. And while there’s nothing to stop sensible, authorised lenders looking at payday loans for those with bad credit, a guaranteed loan however, would be a problem, especially with regards to interest payday loans. Seeing as it would break FCA guidance of responsible lending as set out in their handbook, it would be absolutely impossible to guarantee any line of credit without breaching these.

So now that’s cleared up, you can avoid making mistakes or putting yourself at risk, and we can look at legal and legitimate methods of getting a loan even if you have a bad credit score or poor credit history.

Alternatives to guaranteed payday loans

As we’ve already mentioned, payday loans are designed for those with bad credit and so although not guaranteed, there’s certainly a reasonable chance of securing one even if you don’t have a perfect credit history. The best thing to do if your not sure is to take a look at our bad credit payday loans page and send us an application so we can put it in front of a panel of judges that will be more than willing to take a look at your situation and carefully consider if you can afford the loan and if it will create financial difficulty for you or not. If lenders believe you are capable of comfortably borrowing money and you meet the basic loan eligibility criteria, then they will make an offer. If you have someone willing, you can also look at guarantor loans.

Compare alternatives to guaranteed payday loans

Borrow money: how much?

Short term loans: how many months?

Bad credit loan applications considered?

Does a guaranteed payday loan exist?

£100 loan

3 to 6 months Yes No

£200 loan

3 to 6 months Yes No

£500 loan

3 to 9 months Yes No

£1000 loan

3 to 12 months Yes No

Clearing up some commonly asked questions about guaranteed loans

Can you get guaranteed payday loans for bad credit?

You can’t get guaranteed payday loans for bad credit from reputable and legal providers but you can get a bad credit payday loan in some cases. However, seeing as payday loans are designed for those that cannot approach typical high street lenders with squeaky clean credit history, they are designed to help those with bad credit instead. It’s always worth remembering that due to the higher risks associated with bad credit, there is likely going to be higher rates of interest.

Are there guaranteed payday loans with no credit check?

You won’t find guaranteed payday loans with no credit check from reputable sources. This is actually two pronged. Firstly you must be credit checked, there’s no such thing as a payday loan with no credit check, and secondly all applications must be carefully considered and you must be deemed capable of comfortably repaying the loan. This means there is no such thing as a guaranteed loan either.

What should you do if you’re offered money by a loan shark selling guaranteed payday loans?

If you’re offered a guaranteed loan then there is a fair chance it is illegal and from a loan shark. The first thing to do is check if that company by searching the financial services register (FCA). If you cannot find them then you should immediately report a loan shark directly at the link provided. This is anonymous and you can also contact the Illegal Money Lending Team by phone or email at the contact details provided below:

Telephone: 0300 555 2222
24-hour service
Text a report to 07860 022 116