Looking for guaranteed payday loans?
Sorry to be the bearer of bad news, but there's no such thing as guaranteed payday loans. Despite claims made on some unreliable websites, the idea of 90%+ lender approval rates is just an exaggerated payday myth.
The good news is that Instant Lolly can help you get the loan you need even when your credit history isn't great; we offer a real alternative to guaranteed payday loans.
The truth about guaranteed loans
You won't find any lenders that guarantee acceptance — it would be downright irresponsible and bound to attract unwanted attention from the Financial Conduct Authority (FCA).
There's no escaping the fact that your credit history and finances will be subjected to close scrutiny. You'll need to the pass the lenders credit scoring, which will involve a credit check, and show that you can comfortably afford to repay the debt.
Nothings guaranteed — not by any stretch of the imagination!
Beware of the man bearing guaranteed loans
So why do people claim that they can arrange guaranteed loans when they obviously can't?
- Some subpar brokerage firms make claims of 100% acceptance or ridiculously high approval rates to get you to apply; none of it true. The fact that they're happy to spin you lies from the outset should be a warning that the company is less than reputable.
- We also know that guaranteed payday loans are used as clickbait on illegal payday loan sites. These sites don't have authorisation to carry out consumer credit actvities and could be linked with loan sharks and criminals.
So if anyone claims they can sort you out with a guaranteed loan, run the other way because they're more likely to stitch you up than fix you up.
Use the Financial Services Register to sort the good from the bad and the ugly
If you're thinking of applying for a loan online, make sure you know who you're dealing with and ensure that they're correctly authorised.
Any firm involved in payday loans in the UK should appear on both the Financial Services Register (FSR) and the Data Protection Register.
The FSR is a great weapon to have in your armoury — not only can you check that the website is correctly authorised, you can also find useful information about the operators, including owner names, physical address and contact details.
How to check the Financial Services Register
- Find the firm reference number (FRN) on the payday website — usually located inside the website footer.
- Open the register and locate the firm using the FRN.
- Under the basic details, check the current status is Authorised.
- Under the trading names, check the site name (Instant Lolly or InstantLolly.co.uk) is listed as belonging to the firm.
If the site doesn't display an FRN, the firm isn't registered as Authorised or the website isn't listed as a trading name, it may indicate that the site doesn't have the correct authorisation.
Guaranteed payday loan alternative
So, having established that guaranteed loans don't exist and there's no hiding from a credit check, what options are available if you have bad credit?
At Instant Lolly, we believe we can offer you a real alternative to guaranteed payday loans, which doesn't require you to have perfect credit history.
How do I apply?
There are no guarantees but we'll do our best to find you a responsible lender who specialises in bad credit loans and is sympathetic to your circumstances. You don't have to be in full-time employment to apply but you will need to have a regular source of income you can use to repay the loan (minimum £500 per month).
You can borrow up to £3000 over 1 to 24 months and apply any time that suits you, 24 hours a day, seven days a week. Our service is free for customers to use and there are no hidden costs.
Instant Lolly is an established UK credit broker, authorised by the FCA and registered with the Information Commissioners Office. We also incorporate the latest security technology into our website, including a secure (SSL) browser connection to help keep your information safe through the application process.
While we can't always guarantee that your loan application will always be approved by a lender, we can give you our assurance that you'll always be treated right when you apply with us.