This is important, in fact very important. After all, how long you can survive without money after the job loss. Some sort of solution is necessary to get, as financial matters are fragile and leave a long-term impact. Pending obligations become bad and then worst and also you credit score. This has a negative effect on your finances and on your career. No company wants to give you loan, even employers want the employees of clean image (socially, financially).
Loans for unemployed – do you know about them?
It is necessary to work on the direct solution. Have you heard about the loans for unemployed? These are short-term loans with a small amount limit to borrow. No, not a mainstream lender but the specialised direct lender provides you these loans on customised rates. By the time you get the job, funds borrowed through these loans can help you pass the days.
How do you qualify for loan without any current income to show?
The unemployed loans are specialised loan products and they are available with different guidelines. Yes, even the lenders know that you do not have a current income to show. They ask you to provide the salary statement and latest bank statements to prove the repayment capacity. In case you have any additional income, it can become game changer. Also, if you have the offer letter of your new job then situations are even more promising.
The basic idea is, anyhow you need to provide your financial efficiency to prove the repayment capacity. If on this aspect you are performing good, you can always get the funds smoothly.
The procedure is not complicated
Nothing different is required to do for the application. Only 3 to 4 little steps and funds reach to your account.
Step 1 – Apply for the loan online. The application form is quite short and there is no need to provide a long list of details. Just provide few basic financial and personal details.
Step 2 – Get the approval decision in a few minutes. The loans are available on instant approval decision and there is no need to worry about that. You do not need to wait for hours and days on this matter.
Step 3 – Fund disbursement – Again this is something that happens ALWAYS on time. The funds reach to your bank account directly. There is no need of any paperwork or physical verification for that.
The obligation part is also very clear and precise
The loans as mentioned above are of short-term nature and such loans have no obligation of guarantor and collateral. Oh! You are thinking that situation is difficult for the jobless borrowers but it is not like that. The repay capacity rule works everywhere and if you are strong on that part, the backing of a guarantor or security to secure the repayments is not required. In fact, showing good performance on the financial efficiency can also help you get more relaxation in rates during customisation of deals.
Bad credit people can also borrow funds – Did you know that?
Yes, this is true that despite unemployment as well as bad credit situation, one can borrow funds. Are you on the same boat? Then this is certainly a good news for you. Credit score status is an important thing but the lenders know the logic that unemployment makes a person prone to poor credit situation. Pending obligations, missed repayments, countless expenses and what not. In the absence of an income, it is absolutely impossible to pay off all the obligations. This logic works and the lenders provide you funds despite bad credit situation. Some lending companies like Loan Store, New horizons, bad credit site are the names on which you can rely to have funds without any stress on credit rating.
No credit check to prevent fear of search footprint
Yes, the bad credit situation is not friendly to credit checks and the lenders want you to stay calm. They offer you funds without doing any hard search on your credit file. The no credit check is basically the simplified name of soft search and is quite in demand between the bad credit scorers.
The days after job loss can be difficult but they are not impossible if you have a due solution in hand. The loans for unemployed perhaps can play that role.