Although UK administration allows you to apply for unemployment aids and benefits, the amount of help is always minimal. It is insufficient to meet even the part of basic expenses. But it is advisable to seek unemployed benefits. As soon as you receive the unemployed benefits cheque, you become eligible to apply for some loan. Generally it takes two weeks to process your request and you receive your benefits cheque within 20 days.
No one plans for unemployment however you can plan unemployed loans and benefits. Let's find out all the FAQs, Facts and Myths about Unemployed loans.
- Do apply for unemployed loans on benefits.
- Do make a rough estimate of how much you need.
- Do assess how long it may take to search for a new job.
- Do contact a broker and let him search for you.
- Do concentrate on job search at this time.
- Do ask for delayed repayment from your current lenders.
- Do search for affordable instalment loans only.
- Don't apply for payday loans.
- Don't borrow more than what you need.
- Don't look for false promise but for FCA regulated transparent deals.
- Don't be a victim. Beware of loan sharks.
- Don't delay the current loan repayment and risk your credit score.
- Don't let temporary job loss to make a long term impact on your credit report.
- Don't be de-motivated due to unemployment; rather use professional help of a broker to add positive influence in your life.
Types of loans to avail with unemployment
Doorstep loans are short cash advance loans which can be tailor made according to your credit requirements. You need not use the unemployed doorstep loan as a bridge loan for your loan repayments however you can fund your necessary household expenses with easy to repay loans. Typically doorstep loans are granted as weekly instalment loans, wherein a loan agent visits your home for loan disbursement as well as loan reimbursement.
Short term personal loans
Based on your credit requirements you can apply for short term personal loans as unemployed on benefits. We assess your credit repayment capability and look for loans according to your repayment capability. We search for only soft credit check loans and thus never risk your credit score. You can use personal loans for a variety of purpose.
Short term business loans
Sometimes, unemployment could be a blessing in disguise for you. You may want to use the chosen time to try your hands on a business idea that has long been rolling over your head. We can help you avail a secured short term business loans on easy instalments.
Whether you need a loan against property, or wanting to consolidate your currents debts, we can help you make a learned decision without a delay. We help borrowers from all walks of life including students and part time employees avail the desired loans.