Is an Unemployed Pay Day Advance Loan right for you?
There’s not much you can do if you find yourself without a job and on the Dole but you can certainly prepare yourself well in advance so that you can deal with it effectively. Of course, this is assuming that you had a steady job before you were sacked. Setting yourself up for any financial disaster isn’t an easy thing and especially impossible for people who are between jobs.
Unemployed people usually have a tough time managing their day to day expenses, as expenses remain the same but there is no income. In such a situation, if they further have to go through some emergencies, they have no other option than taking up a unemployed pay day advance loan. Unlike in the past, even unemployed people now can depend on payday loans to take care of and short term emergencies.
Due to the absence of a steady income, unemployed people can turn to unemployed pay day advance loans even if you are on the dole and unemployed. These loans ensure that the jobless lot can get quick cash without proceeding to conventional loan market to avail funds. So if you happen to be one amongst the “unemployed” lot of people, do not despair! The loan application process for payday loans for unemployed is quite similar to the one required for pay day loans. Of course, since you do not have any income, you cannot look forward to getting a large amount. Payday loans for unemployed are actually short term loans for small amounts to help unemployed people meet varied needs.
There are certain eligibility criteria in place to avail of these loans. Virtually all lenders will expect you to be at least eighteen years of age to be able to apply for this type of loan. Apart from this, you will also be required to provide a residential proof and must hold a bank account. The purpose of having a bank account is that online lenders usually transfer the required funds immediately in to your bank accounts once they are approved and processed.
The best part about the unemployed pay day advance is that even bad credit holders can avail of it. To protect their own interests, lenders tend to charge higher rates for lending money to high risk customers such as unemployed people and borrowers with bad credit. Do a little research to save as much as you can on the interest rates charged by various financial companies. Lenders usually transfer funds in less than 24 hours into your bank account. Being a short term loan, you are required to repay the amount in a period of two to three weeks or else be prepared to pay much more in terms of late fees.
Thankfully, financial companies and lenders are not really interested in knowing what you intend to do with the loan amount. This means you can use it even to pay your grocery bills and repay it at a later date. So, use this financial solution anytime you want to fill the gaps during your period of unemployment provided you have the means to repay them on the promised date.
Please note: This is a general interest article about unemployed pay day advance loans and should not be taken as legal instruction. If you are an Australian, it is suggested you speak with your Bank first before approaching any financial institution about a Pay Day Advance Loan for people on the dole.
Click here for more details about an unemployed pay day advance