Obtaining a loan can be difficult and if you have a poor credit rating, you may find that the traditional lenders are not willing to provide you with the funding that you require. You are not completely out of options but you will find that your options are limited. A lot of people find that they look to a payday loan to give them what they need, but this is not the best solution for you.

Instead, you should consider a guarantor loan. This is because a guarantor loan will be available at a much more affordable rate of interest due to the fact that someone is willing to vouch for you and back you up. This provides the lending company with a greater degree of confidence in the loan bring paid back. This means that you should think seriously about the sort of person who will agree to provide you with the support that you require.

When asking someone to be a guarantor for a loan, you should prepare yourself. It is likely that they will have some questions for you, and it will help you if you have answers ready to support your request. You should be able to say why:

• You need the loan
• A guarantor loan is your best option
• What the help will mean to you and what it can allow you to do
• What is involved with the role of being a guarantor

If you are able to show that you have thought through entire process and research what is involved, it will indicate how serious you are with respect to the loan and the situation. You should try to think of the loan and process from the viewpoint of the guarantor, and you should be looking to provide them with as much information as you can.

Consider all of your options

There are a number of guarantor loan companies to consider, and you should put some research into what is on offer. Not all of the companies are the same, and it may be that one guarantor loan firm is better for your needs than another firm. Taking the time to research your different options will indicate maturity and again, this will show your guarantor that you are taking the loan, and your request, very seriously.

It would be best to ask the potential guarantor in person, and you should do so in a place where you are both comfortable and where you can get peace to talk. You should also be prepared to give the person some time to think about your request. Even if you need money in a hurry, you cannot expect someone to say yes to your request immediately, so think ahead and ask in advance.