What are Personal Payday Loan Guarantees

If you are looking for information on loan guarantees, on this page we provide you with all the information you need.

Loan guarantees are used to indicate all the documents that must be provided to a bank or financial institution in order to have a personal payday loan. The guarantees that can potentially be provided are different, and on this page, we will deal with them all.

Because guarantees are important

Because guarantees are important

When looking for a personal payday loan or a mortgage, it is essential to have guarantees that can be provided to the bank or financial company, so that it can be sure that it will get back the amount of money loaned. Without this certainty, the loan “is not done”. Loan guarantees are designed to keep a bank or financial company quiet and to allow those who need it to get hold of a certain amount of money.

As we understood from the first introduction, guarantees on personal payday loans are very important since they allow you to have more opportunities to obtain financing.

In the absence of guarantees, in fact, most of the time the loan is not obtained, even if there are particular exceptions constituted by honor loans, which are those granted to particularly deserving students or to those who intend to open a new company.

The types of collateral loans

The types of collateral loans

There are many types of loan guarantees that can be presented and they range from “objective” to personal ones. There is no limit to the maximum or recommended number of personal payday loan guarantees to be provided to try to get a loan: the more you give it, the better.

Salary or pension

If you think about it, salary and pension are two important guarantees of a loan.

If you have an open-ended employment contract or if you “enjoy” a retirement pension, you are “certain” that you will continue to receive fixed monthly earnings even in the coming months and years.

As a result, the finance company and the bank will be much more likely to lend. In this case, we speak of loans to employees or loans to pensioners.


The surety is one of the first guarantees that can be granted.

This is a personal guarantee, or in which the help of a third person is requested who acts as guarantor in the event of default by the principal debtor.

Basically, if the debtor does not pay the installments of a loan, the finance company can request them from the guarantor. He is obliged to pay and can then refer to the main debtor (with some exceptions). To learn more, read our complete guide to the guarantee.


The bills of exchange represent a guarantee because, in the event of non-payment of the installments, they entitle the bank and the finance company to take possession of the debtor’s assets and to sell them at auction.

Not everyone can get loans with bills of exchange, and it is not so easy to find banks or financial companies to grant them.

To learn more, read our guide to changed loans.

Pawned items

The pledge is probably one of the least used forms of guarantee ever, on the other hand, it is one of the fastest and easiest to use: just give, in fact, an object of a certain value as a pledge and the economic counterpart can be recovered.

The strengths of this loan are security, in the sense that the item pledged is kept by the bank in a protected environment, and the complete availability of repayment, in the sense that it can be obtained at any time, just bring it back the sum of money agreed with the lender (which will also include interest).

Items commonly accepted as a pledge are gold, silver, and diamonds. In this case, we are talking about pawned loans.

Loans with guarantor and guarantees

In this section, we provide you with a general indication of loans with a guarantor or with guarantees.

The answer is yes and it all depends on the amount you ask for and the work you do. For example, if you are a young person who wants to buy a car and works part-time, the finance company could ask for a guarantee from a parent, for example, before granting you the financing.

If you don’t work then you will need to provide other guarantees before you are granted a loan without a paycheck. Finally, if you are a housewife and you need home loans, perhaps to help a child in your studies, you may need your husband’s guarantee.

In general, it can be said that the greater the guarantees provided, the higher the amount obtainable, as well as the better the conditions of the loan.