I don't think you need to convince anyone that the unemployed are in a very difficult financial situation. However, the lack of a permanent job is not limited only to the inability to live at an appropriate level, but is also often an obstacle in obtaining a bank loan. Losing a job or finding it difficult to find means a lack of funds for everyday expenses, and loans for the unemployed
may be a solution.
It is difficult to recommend the solution as a way to raise money for the home budget, but as a rescue in a temporary bad situation, definitely. Loss of liquidity can threaten your entire existence. When there is no money for basic needs, and the family or friends cannot be counted on, non-bank loans for the unemployed
These financial products have their advantages, but if carelessly used, they can also lead to serious financial trouble. Therefore, before you take such a payday loan, find out as much as possible about it.
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Payday loans without income from work
Although taking a non-bank loan involves less formalities than a loan, and in addition, the creditworthiness may be much lower here, in most cases loan companies have some requirements. The most common of these requirements is having a steady income
, because without it, it will be simply impossible to pay back payday loans
. Until now, the unemployed
has been marginalized by financial institutions, but changes in the quick loan
market have made payday loans
open to this group of consumers. The lack of a permanent job
does not have to be an obstacle to taking out a loan anymore. Since special loans for the unemployed
were created, it is possible to obtain money if you work abroad
or in the country without documented earnings
- only on a declaration
or even without it. Some time ago, such a possibility was almost unthinkable. Today, loan companies meet the expectations of unemployed people who need to borrow money.
Of course, this solution also has a serious disadvantage, and this disadvantage is the higher cost of the loan
. Lack of permanent employment
is a threat to repayment, because it is very likely that the borrower will not find employment or otherwise obtain money until the debt is repaid. Therefore, non-bank loans for the unemployed
are often more expensive than for people with a steady source of income, even if the earnings are modest.
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What income do loan companies accept?
For loan institutions, the employment contract
was the most advantageous form of employment taken into account when issuing a loan decision. Now other forms of employment are also taken into account - a contract for a specific task, contract of mandate , disability pension
, and even earning income from permanent and guaranteed government benefits - the so-called payday loans for 500+
. It also widened the age range for loans. Quarterly tickets
are often given for 18 years
and the upper limit is even 85 years. Contrary to the requirements of banks, this is a very attractive offer
, because a loan can be taken by almost every adult, regardless of the financial situation.
Such a large range of acceptable income opens the door to a loan to people who would not otherwise be able to borrow money. A loan for the unemployed
requires only an ID card, and in many cases it is possible to determine the repayment date yourself. Loan companies use more and more freedom in this regard and allow you to spread the payday loan into installments
, which makes it even easier to pay off the payday loan. In some cases, it is also possible to postpone the repayment time when the available financial resources are insufficient to pay the amount due on the previously agreed date.
- a loan for the unemployed may be secured by a declaration or a civil law contract;
- the flexibility of loan offers makes them available to a very wide range of potential customers.
Quick loan for the unemployed
A quick loan for the unemployed primarily saves time. Due to the lack of the need to complete the necessary certificates, a loan can be obtained much faster than usual - even in half an hour. A quick loan via the Internet is also a chance for - even temporary - improvement of the financial situation in the case of people with no income. Such a loan can be "saved" in a situation where we lose our job and our savings are negligible. The money from the loan will allow you to somehow survive the job search period , and you will be able to pay off the debt from your first paycheck.
Payday loans without earnings certificates are very often taken also in emergency situations. When a person has a debt with a bank or other financial institution, and still needs an additional injection of cash. Simplified formalities and the possibility of granting a loan for a declaration give a chance to get out of a difficult financial situation also during illness or when some household appliances break down or when it is necessary to complete a layette for a child to school or organize holidays.
Non-bank institutions do not ask what the customer borrows money for, because payday loans are not targeted loans. They are not spent on specific investments. They can be spent on current needs, which is why they are often also called consumer loans. Finding a loan on good terms allows you to pay off quickly and conveniently, but you need to be prepared for the fact that we will have to pay more than we borrowed.
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Magdalena Mazur Twitter
She graduated from the University of Economics. She specializes in credits, loans and payday loans that can be applied for online. He knows the rules of online offers and is happy to write about them so that anyone interested in taking payday loans online knows what to look for.