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Situations become lot tough if you suddenly find yourself in the list of unemployed people. And it gets worse when you lack enough savings into your bank account. In the situation of no steady income, things are going to be more difficult to win over the regular expenses. Looking at loans seems like a smart decision to escape the financial gap.
The truth is that not many loan options are available for the jobless individuals especially when we consider the traditional financial market in the UK. Of course, the fear of high-interest rates is always there for the borrowers.
The direct lenders, who mostly follow the online process, have focused much on the people going through the phase of unemployment in their life. They have prepared specialised deals on the guaranteed loans for unemployed in UK in which the interest rates and repayment terms are generally flexible.
People with bad credit record, who are unemployed, hesitate a lot before applying for any unsecured loans. The reason behind this is- they believe that the rate of interest offered to them will be very high, but this is not true as every lender have their own lending policy. Here, we provide unemployed loans with bad credit history at an affordable interest rate. When you contact us, you can expect the most competitive APRs in the industry and we ensure that the fund is transferred instantly after the approval to the borrower's account and that too without performing any credit check.
These are the types of emergency cash loans that are crafted for the people who live on rent and are no longer employed. The benefits provided to such people by the UK government are not good enough to handle the daily expenses that come from all sorts of directions.
Emergency loans for people living on benefits and that will be on the flattering rates are usually provided to those individuals, who are good to their credit ratings and have shown the past of a responsible borrower. Similarly, a few lenders also draw their hands back to help those jobless people, who are living on the government benefits. They pointed that since these people are gaining the benefits so why they are applying for more lending options.
Well, it can be a point but a harsh one too. Sometimes, people cannot find government benefits sufficient to cope up with their rudimentary needs. Thus, they have to apply for the emergency money for unemployed from direct lenders. More importantly, the direct lenders bring the most crucial benefits for them, such as:
We specialise in emergency money products that can help you get rid of your financial problems more quickly than you can ever know. Our business motto is to help people at their tricky situations so even if you don't have a solid repayment plan and the risk of getting default is high, you can count on us and will not let down your hope.
The financial urgency does not wait for any invitation and it can come even during the unemployment. This is the reason why most of the jobless individuals struggle to get the emergency funding. However, it does not happen on regular basis rather few direct lenders have the provisions to provide short term payday loans for unemployed in UK.
It generally processes through the online application procedure where the application can be made through three simple steps:
Such sort of facility can be seen primarily during the payday loans for unemployed people on benefits. Here when the borrowers submit their loan application, the lender does not take time to approve and disburse amount. In fact, all it is done on the same day. For the unemployed, the direct lenders can be slightly lenient to their approach and provide desired funds on certain conditions.
Fortnitemoney, a new-age online direct lender, promises to be the best financial saviour of the Britons when they are facing the tough financial scenario of unemployment. We provide bespoke offers on payday loans for unemployed people through a simple online process.
Well, not necessarily because there are lenders like Fortnitemoney where you will not be asked to provide a guarantor to get the loan. However, there will be a strong chance that all your other financial factors will be taken into consideration for the approval such as credit score, credit utilisation ratio and others.
Yes, the students who are earning a part-time income or even do any side gigs can apply for the loan. However, as you will be jobless and would be having a zero credit, then evaluating the financial repayment capacity will get difficult for the lender. Thus, in that case, the academic record of the borrower will also be considered.
Losing a job can have a big impact on personal life, especially when it is all of a sudden. So, getting a loan might be challenging but not impossible though. There are lenders who provide loans for unemployed and that too without charging any upfront fees. By applying directly online, you can get the approval instantly and get the amount disbursal within the same day.
No, you will not be asked to provide any collateral to get the loans for unemployed. The lender might check other financial aspects to evaluate your creditworthiness. But, in case if you are need of a higher amount, then providing a guarantor during such situation can lead you to guaranteed approval.