Traditionally, it has been hard to borrow money from lenders due to unemployment. However, you do not need to strangulate your desires now as RecentFinance provides payday loans for unemployed, which you can use during financial emergency.
You can take out these quick loans when you do not have a full-time employment but you must have a steady source of income, for instance, rental income, to make payments possible. We will lend you money instantly after analysing your repayment capacity.
Do not let other lenders call you on for meetings after meetings when you can apply for the unemployed loans anytime from anywhere. Whether you are out of work or living on benefits, bad credit scorer, or no availability of guarantor, flexible repayments makes it possible for you.
Small loans are beneficial during financial emergencies. It is mainly because the procedure is not cumbersome, and paperwork merely becomes a formality. The same thing applies to payday loans for unemployed from direct lenders like us.
We bring everything convenient to you, including these benefits:-
Chance of Guaranteed Approval
Borrowing from conventional lenders may not guarantee you loan approval. With direct lenders, you have more chances of guaranteed approval as the criterion is your income capacity. If you are earning good, you can get the guaranteed loan acceptance.
Easy Monthly Instalments
We follow the flexible lending policies, and thus, the repayment schedule is adjustable too. You can select your own convenient repayment term according to your income capacity. If you repay the loan on time, it helps in improving the credit scores too.
Less Importance of Credit Score Criteria
Gone are the days when the lenders accepted only those applications where good credit scores were mentioned. We have changed that trend and prepared to offer payday loans despite poor credit score. The interest rates remain competitive.
It is the most significant aspect of small loans like payday loans. You get the approval within a few minutes if your application does not have any flaw. In fact, we disburse the amount on the same day in the UK.
Loans on Affordability
We approve payday loan application only based on your income capacity. Sometimes, we also do soft credit checks to ensure you get the loan according to your affordability.
It is true that any lender would like to see full-time income status, credit history and current score before approving the loan applications. But when you are out of work, then how will you convince the lender? Well, you still have these options to utilise:
The ideal situation to borrow money is emergencies and they can happen to anyone regardless of employment status. The payday loans for unemployed people on benefits tide over their expenses.
Unlike other direct lenders in the UK, we are quite open to loan applications even if you live on benefits. In fact, we can accept these benefits as the repayment source if they are in the funding amount. Even if you are retired and dependent on your pension, you are free to apply for these loans with no guarantor and collateral.
Repayment terms for people on benefits are flexible, so you can manage to repay whole of the debt on time. Fill out and submit the payday loan application online. We will review your profile and your loan will be processed instantly either through online or doorstep service.
You need to know that you should be earning a part-time income of a minimum of £400 per month besides these benefits. It helps you keep paying the repayments on time, and thus, there is no need to bring any guarantor to do this.
During a financial emergency, you cannot wait for long to receive financial help. As the responsible online lender in the UK, we understand your needs and prepare fast cash advance payday loans for unemployed.
Here are the features of these specified loan deals:-
It is correct that you get the cash advance quickly from us, but still, you should borrow the amount according to your capacity. It is suitable for your overall financial record.
It is hard for jobless students to cope up with their financial needs. With no broker involvement and no upfront fees, you will get cash ranging from £1000 to £5000. You can use the amount for any purpose such as:
Your application for student payday loans for unemployed will be approved if you prove your capability to pay off the debt and you submit evidence to prove that you are a student. You can submit any type of funds like a part-time job wage, grant, and intern stipend as a part of your income. The interest rates for student payday loans are lower than cash advances for unemployed.
Bad credit is no longer a hindrance when you apply for the unemployed loan from direct lenders in the UK. Unemployed payday loans with bad credit carry a bit high interest because your credit history is not favouring you. We determine the disbursal amount and interest rate after considering the risk of defaults and your income statement.
The application procedure will not leave a footprint on your credit report. The timeframe of these loans vary from 14 to 28 days depending on your next payday. The whole amount is paid off the same day when you receive your pay cheque.
Finding a guarantor with a good credit history is almost impossible when you have come across unknown expenses. Knowing that you need funds urgently, RecentFinance provides you with unemployed payday loans without guarantor. You will get funds instantly if your credit history is excellent and you will pay your debt with lower interest.
If your credit history is disappointing, you will get funds at a higher interest rate compared to borrowers with a good credit history. Please note that you may have difficulty getting your loan approved if your score is very poor. Other eligibility conditions are as follow:
Direct lenders always run a soft credit check before transferring funds to your account. The difference between a soft credit and hard credit check is former does not pull your score. Payday loans with no credit check work best when you need funds on an instant and they are also considered ideal for those borrowing for the first time, which means with no credit history. Rest terms and conditions are as same as other short term loans with bad credit.
Yes, to receive funds, you need to submit any source of income such as government benefits, a part-time job, rental income, and the like. You should have a bank account and your age should be at least 18-years-old.
Well, it would be very hard to get unemployed payday loan with no income. Lenders do need some sort of assurance of getting their funds back for which they need any earning source from the borrowers. However, there can be two ways to have such privilege:
It is very easy to find out the direct lender to apply for payday loans for unemployed situation. You just have to do either of these things and get the best deal to your favour:
If you do not pay back your payday debt on time, your score will go down. In fact, all loans affect your credit rating. Timely payment will improve it and defaults will pull your score.
You will fill an online application form along with documents to prove your age, employment status and income sources. We will quickly analyse your reimbursement capacity and then disburse funds.
Very difficult, yes. Lenders do require bank account to transfer the loan amount and to get out the payment on the said date. If there is any chance, then you have these ways: