It feels like the absolute worst-case scenario possible. You have no job; savings are nil, and a sudden expense comes up. With no resources at your disposal, an unexpected emergency can be doubly as stressful. Whether it is a medical emergency, a major car repair or the myriad other unexpected expenses life is bound to throw at us; you simply feel stuck. You’ve heard of door to door loans, but because you are unemployed, you are certain there are no options for you.
Not to worry! This is where a doorstep loan can help.
Being unemployed do not mean you are out of resources.
Being in a jobless situation usually affects you negatively when it comes to borrowing from financial institutions. It is just in those moments that you are in dire need of funds, that the banks turn their backs on you.
In most situations, people with poor credit history face a tough time in securing loans that would help them over their financial crisis. Unemployed people have it worse as they have no pay stubs, no financial documentation to back them up. They may have no collateral either.
This has no relevance for Doorstep Loans for Unemployed UK. The Agents do not look at your past credit history, whether it be good or bad. They do not see if you have property or assets to act as collateral for your loan. They only need some proof that you can, in fact, repay the loan. Fortunately, there are many creative options available to you when it comes to same day loans for the unemployed with bad credit, and most lenders will consider a broad range of income sources like:
- A great factor to consider in applying for cash loans to your door for unemployed is the existence of any rental income you may have. Although not a traditional pay check, rental income can be a fabulous source of financial stability nonetheless. Thus, if you have a rental property, a vacation property or even a roommate that pays rent, do not discount the potential of any of these sources – as well as any combination of these sources – being a viable option for standing in the place of a traditional pay check.
- Much like in the situation of car notes and home mortgages, a co-signed loan may be another great option for you. Qualified co-signers that can show their income stability can serve as a so-called backup to your loan, establishing a safety net that can improve not only your lending options but also your lending limits. Often, co-signers are close family, such as parents, grandparents, spouses or trusted friends. An option that should be considered wisely, as with any consigning situation there is a high degree of confidence necessary, but for many unemployed individuals experiencing an emergency, a co-signer can be the perfect solution getting one of these quick loans for unemployed approved.
Freelancing and Petty Cash
- The definition of unemployment can be a blanketed term that can completely fail to take into account creative situations that fall outside the boundaries of having a typical job. Millions of people worldwide may not do the usual nine-to-five, but that certainly does not mean they are not working! Other less often viewed revenue streams frequently overlooked may be the perfect solution for securing these short-term loans for unemployed.
So, what are some of these other forms of income? A prime candidate is a freelance or independent work. Do you offer freelance writing, editorial, or even general contracting services? Or perhaps you run an online store through a website such as Etsy or eBay. Surprisingly, these forms of freelancing and petty cash opportunities may indeed help to qualify you for doorstep cash loans today for unemployed. Simply grab any contracts you have for your work or accounting sheets and breakdowns, such as profit and loss and monthly totals, and include them with your application to see how these alternate forms of income can help you get your loan today! That’s right, one of the best advantages of small loans for unemployed is that once the lenders receive the application, they process it and disburse the loan amounts directly to the bank account or personally by the lenders agent within 24 hours. It is because of this; these loans are often referred to as same day loans.
Self-Employed is not Unemployed
- Owning a small business is a dream for millions and a reality that countless people and their families commit to and live out each year. Yet, with the constant uncertainty of markets and change of clientele, competition, and spending habits, the self-employed are always on high alert to maintain the most success for their companies possible. Nonetheless, many do not recognize the power of their businesses in securing loans they may need until a customer pays, to handle an emergency store situation, medical emergency and more.
Fortunately, doorstep loans 4 unemployed people can be an extremely viable and fast option, as being self-employed is certainly not the same as being unemployed. Don’t receive a regular pay check from your company? No problem! Securing a loan can be as easy as presenting simple company records that indicate the previous years’ tax revenue reporting, along with your usual monthly profit and loss statement. Although not the general pay stub, these forms of documentation can be of great assistance in showing financial sources and have you qualified and receiving the money in as little as 24 hours.
Don’t Forget Those Benefits!
- Lastly, do not forget the power of benefits. Many residents of the UK live on secured pensions that are as solidly considered as income as is a typical paycheck. From government benefits to pensions to private retirement plans to short term and long-term disability, there are countless forms of benefits that may qualify you for a brief term loan. Do not let the question of a benefits’ ability stop you – when talking to the lender’s agent just include any forms of private or government benefits you are receiving to find out if you qualify for loans for unemployed people on benefits same day.
What if I have a Bad Credit Rating?
Unfortunately, this is often the situation that people are finding themselves in at the moment and its increasingly worrying for a person who is in this situation with current bad credit records like defaults, arrears and bankruptcy because although sometimes its due to no fault of their own when a person is labelled black listed, nobody wants to know! With loans for bad credit no guarantor no fees unemployed there is no distinction made between the good and bad credit holders because it’s not about judging a person for mistakes made in the past it’s about helping a person in need by offering them a sigh of relief, it’s also a very good way of helping that person who does have a bad credit history to try and improve on that.
Nothing is more stressful than an unexpected expense. Add in the pressure of not having the money you need to deal with an unforeseen circumstance, and the problem only feels worse. But do not be discouraged by an unemployment status; a deeper look at your situation may be all it takes to get you qualified.
The Agents come to your house after you request one of these home collection loans for unemployed with bad credit no guarantor giving them permission to visit your home with the necessary documentation. They determine the amount after discussing your financial situation with you and to judge whether you will be able to repay the loan.
Though the typical tenure for repayment is one month, it is understood that if you are unemployed, you will be unable to repay the loan amount in that period. So, repayment is spread over months in instalments. As there is a higher risk factor of defaults on payments, the interest rate is higher to counterbalance the loan given out to people. If the payment defaults, there is a hefty penalty charged.
Although you may need the funds urgently, it would be wise to take some time, do your research on which Agency offers the best interest rate, repayment options and duration of repayment. All these factors will help you decide. When you’re unemployed, each decision should weigh more. You won’t have a regular income to offset your expenses, and to get another loan to pay off one is worse.