October 16, 2018

Short-Term Guaranteed Loans- Delaying Is Saving

By : Ellie Brown

The trends of UK’s economy are highly unpredictable. Many speculations of economy professionals went wrong especially after the Brexit agreement. The UK’s economy is expected to go unsteady with several down and ups in the coming years. Although some good signs of recovery have been witnessed as the unemployment rate came down to lowest level in 2018 first quarter if compared to previous ten years but the problem of earning adequate to meet out the living expenses continently is still a big issue for the most. The rising demand of guaranteed loans and short term loans for unemployed shows that still the large numbers of people depend upon borrowing from private lending agencies.

Is There Any Alternative Of Short-Term Guaranteed Loans?

One of my friends Mr. Andrew in London visited a furniture showroom with family just before Christmas last year. His Mrs. liked a sofa set there and insisted to replace the old one at house. Mr. Andrew knew that this is avoidable expense and his wife is buying the new sofa set just being impressed, convinced and encouraged by the salesman. Ultimately deal is made at three monthly installments. To manage the installments on the time, Mr. Andrew took payday loan from a direct lending agency first time in his life and, created a bad mark on credit score card because of failing in paying the complete amount in one go as per payday loan terms and conditions.

Moral of story– Even if you have sufficient monthly earning, then too every pound must be spent for a cause. Borrowing should be avoided until the last. Working out the budget before borrowing to make surety for on the time repayment is a good practice that every borrower must do. Never spend the money on spur moments. Borrowing from a regular mainstream bank or Govt. financial institution is cheaper. Borrowing from a relative or community friend is also a good option but if you are sure enough to repay on time. Overdraft facility is also an option for the people holding good credit score.

Short Term Loan for Unemployed- Avail Only When You Need It:

The jobless people more than 16 years old but ready to join a suitable job in two weeks are said unemployed. Jobless people must have been active in finding a job for over past 4 weeks. Why am I saying it? If you fulfill either of these conditions, you can avoid short term loans for unemployed from the direct lending agency. In 2017, there were almost 1.56 million unemployed in the UK while the numbers of unemployed holding debts from direct lenders were less. What is the alternative to unemployed loan?

More than 300,000 unemployed in the UK didn’t claim unemployment benefit in January 2018 despite being entitled. The JSA weekly amount for the unemployed up to 24 years age is £57.90; while it is £73.10 for the unemployed over 24 years age. The Jobseeker’s Allowance (JSA) is granted for six months. Income based JSA is also available. This facility is available only for the people living in England, Scotland or Wales.

Approach to Tap a Direct Lender for Guaranteed Loan:

The bad credit unemployed loan without a guarantor has high risk of payment failure; therefore, it is provided at a high interest rate. The interest rate depends upon repayment installment plan, repayment period, monthly income source during unemployment and loan amount etc. The negotiation skill is the only way to avail this facility at low price. It is you to decide that whether you need short-term unemployed loan or long-term unemployed loan; however, 12 months repayment period is ideal. In any case, never over- commit just to invite late payment penalties as well as red flags at credit score card. Most unemployed borrowers neglect the cost and terms and conditions because of being in hurry to get   quick funds; I hope, it will not be your approach.


Finding a direct lender, offering same day ‘short term guaranteed loans for unemployed’, is no more a tough task but getting the best affordable and purpose suitable deal needs your pin-pointed attention with strategic approach.

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