If youre struggling to find money loans for unemployed people then this article will help you explore some options that you may have. People without a job are seen as a risk and its quite unlikely that you will get a cash advance with no credit checks; no bank accounts, your no fee perk may be waived too! Its not all doom and gloom as there are viable options to take. In this article which includes videos we look at whether we really need money loans for unemployed people, budgeting effectively to repair your credit and then apply for money loans for unemployed people which include online pay day loans and peer to peer lending clubs.
I Dont Have a Bank/Checking Account Can I Apply For a Money Loan For Unemployed People?
Your options for getting quick money or instant loans for unemployed will be severely restricted if you have no bank account. Therefore it makes financial sense to open a bank account even if you have bad credit. Unemployed people on benefits will find it hard to open an account especially if they have low credit score and bad credit history. Fortunately there are some bespoke bank accounts that offer you bad credit checking accounts for a subscription which will help you repair your credit. If your credit is really bad try opening a prepaid credit card which will prove that you can manage you
Websites: Securetrustbanks.com mycashplus.co.uk
Ive Got Bad Credit Can I Get a Money Loan For Unemployed People?
If you want quick money cash advance from loan lenders then having bad credit wont help, therefore it makes sense to repair your credit as much as possible before you apply for a money loan for unemployed people. The advice I would give you is always spend less than you earn, save a little every month, pay off as many debt as you can to avoid paying too much interest. If you can prove to banks, building societies and credit cards that your money management is improving then the chances of approval are high for an instant loan. Here are some options that you have and things that you should consider when taking an instant loan.
Whenever possible you should try and avoid paying interest! It will make your poorer. If you have savings then you should use this if you need emergency money rather than taking out a money loan for unemployed people at very high rates of interest. Think of how much money you can save if you avoid an instant loan from loan lenders.
Ask friends and family
We have friends and family to provide support at times of need, if you have an emergency then its worth asking for interest free loans or cash advance. If you are successful then you can avoid getting a money loan for unemployed people and save a bundle in interest you dont have to pay.
Government crisis loans
We pay our way by paying taxes so at times of need we can rely on the government for a crisis loan. If you really need the money for a crisis or emergency then the government has discretionary fund designed to help people back on their feet. This is definitely something you should consider before you take out a money loan for unemployed people.
Websites Usa.gov Direct.gov.uk
I am a big fan of credit unions, they provide a good choice as money loans for unemployed people. Credit unions as run by its members for its members and its not run or motivated by profit. Loans for people are available if your need is genuine and have a way to pay them back, usually in the form of unemployment benefit money or government checks.
Websites: abcul.org Top 50 Credit Unions
This is another favorite of mine and should be considered when taking out a money loan for unemployed people. You can get quite competitive rates on interest depending on how good your credit score is. P2P lending takes the banks out of the equation and provides a place where investors and borrowers can get together and save and make serious money.
Websites: Prosper.com Lendingclub.com
Payday loans on line, Logbook loans, Pawn shops & Cash converters
When possible I like to avoid cash converters, logbook loans and pawn shops as you have to secure an asset against your loan, if you default then your asset will be taken away. This should be considered as a last resort when it comes to money loans for unemployed people on benefits. Online pay day loans for people on welfare charge between 500 to 4000% Apr and you will end up paying a lot of money.
Websites: Wonga.com Quickquid.com
Money loans for unemployed people at first may seem like the answer when theres a crisis or emergency. However it takes commitment to take out instant loan cash advances and you should consider the consequences and check the small print before you sign on the dotted line. Good Luck.