I am Unemployed, Why Should I Opt for Loans?
Fulfilling the extreme financial commitments seems tough sometimes, but availing the loans for unemployed can prove to be a decisive decision. Unemployment is like blight for anyone. This is such phase of life when people have to live with no income from any corner. The irony is that they have to arrange some pounds to meet their rudimentary needs and obtain a peace of mind. Of course, they may have some government benefits probably because they are physically unfit or any other reason. But loans have their importance too.
Usually an unemployed loan is applied either in secured or unsecured manner. However, it is mostly available through an unsecured feature. It is because keeping collateral against the loan amount is tough for those with no monthly income. Apart from the unsecured feature, the benefits that direct lenders bring for a jobless individual are:
- Unemployed people with bad credit are also eligible to apply, as the lender follows the no credit check policy.
- Providing the guarantor is not mandatory because the applications are also accepted through no guarantor claim.
- The borrowers have the opportunity to secure funds according to their needs. Generally, they can borrow between £500 and £25000 depending upon the current needs.
- The chances of guaranteed approval are always there if someone applies loans from the direct lender.
The loans for unemployed people remain the only option to survive the tricky financial situation and it is indeed a wise decision too.
Which Sorts of Funding Can I Expect Under Unemployed Loans?
As the lending market merges with the online technology, the jobless individuals can seek multiple lending options to remove their curse of not having enough funds. Here are the types of loans for unemployed in UK in which you can make your selection:
- Funding for Your Short-Term Financial Purposes
One of the most favourable lending sources is to opt for short term loans for unemployed. There are dual benefits of such borrowing i.e. first; the lender can transfer the small amount more quickly than the long-term loans. Second, since the amount is small, the loan provider may not see the obligations compulsory.
For the last few years, VirginBucks UK has brought out personalised offers on such small loans because of the growing demand from the People. It is because these individuals are finding the fulfilment of small financial needs more difficult and thus, they are looking for a relevant option to pursue.
Among the main benefits of such borrowing is that the unemployed people with poor credit scores can also fetch the desired amount. Fortunately, the lenders are up to their demand and they are ready to provide short term loans for bad credit people.
- Funding for An Extreme Need of Funds
Deals are also available on the payday loans for unemployed individuals that will help them in getting quick funding for an early removal of financial issues. It may look quite strange that how the unemployed people can repay the borrowed amount when they do not have any income. However, arrangements have been done for them and different lenders have the different lending policies regarding the loans. At VirginBucks UK, they can have the loan approval on the basis of their additional income sources like
- Getting rent from their rental property
- Earning through freelancing
- Other small self employed activities
- Benefits received from the Government
To apply for the payday loans in UK:-
- One must have an internet access because they are going to apply for loans on the lender’s website
- An online application form is there, which they have to complete with mandatory details like age, residence, occupation and bank account
- Once completed the form, submit it and then wait for the approval
In order to give instant approval to the borrowers, some lenders are ready to allow payday loans with no credit check claim where they do not go through the credit history of the applicants.
- No More fear of Denial, Loans Do Come on Guarantee
A major thing that has changed in the recent times is that the borrowers can avail the option of guaranteed payday loans. It means the denial of application is not the possibility and the applications are accepted on the guaranteed basis. This reflects the flexible lending approach of the modern-age lenders like VirginBucks UK.
Whether you are going to apply for the short term loans or the payday loans, one thing is for sure that the prospects of guaranteed loans for unemployed in UK are always there. Borrowers do not seem to be worried about getting a loan is possible or not.
If they able to keep their actual loan purposes and find a reliable lender, then assured loan approval for unemployed are easily achievable.
What Makes VirginBucks Special in Offering Unemployed Loans?
VirginBucks UK works as a reliable online lender and happy to obtain risk of providing loans for unemployed with bad credit and no guarantor.
- Competitive interest rates
- No documentation
- Acceptable repayment options
- Special deals for First-Time borrowers
These are some of the features that come naturally with our loan deals.
Availing the unemployed loans can be a solution but at the same time, a risk too. Most of the lenders tend to keep a distance away from those borrowers, who are struggling with either bad credit score or no credit history. They may provide you loans but on the higher interest rates. Thus, you must be on your toes while confirming the loan deal for your finances. This is where we are different from other lenders. We give you that platform where you can apply for the no guarantor loans despite having no job and no credit score.
We are indeed the destination for those People, who are looking for guaranteed acceptance on loans for unemployed, from direct lenders with no credit check facility. Apply loans here…
6 must read questions for unemployed
When should you apply loans for unemployed in the UK?
If you think that your situation is requiring the extra financial help then you must go for the online borrowing. The lender deals with its borrower by providing flexible features so that no applicant can stay in pressure of returning the amount.
To get the loans for unemployed in the UK, you just have to assure that your income credibility should return the amount on time. The best feature a lender can provide you is it accepts the applicant’s earnings from other sources as well. For example, if you are working as freelancer, or doing zero contract hours then lender can consider the application to provide you the instant disbursal.
Is guaranteed payday loan from direct lenders with no credit check safe?
Yes, you can easily trust on guaranteed payday loans even if you are having low credit score. It is because the borrower can get the amount with the help of a unique feature. It applies with no credit check that prevents the mark of search print on the credit score.
This thing helps the borrower to try for luck to get the approval if that person tends to face rejections. Therefore, even if you do not have a credit history then also the chances of being rejected increases. It is because the lenders are not able to ensure your financial stability but do not worries; you still have a light because a lender considers you depending upon your income source.
Is it possible to get Loans for Unemployed with bad credit no guarantor?
Yes, there is a full scope to get the loans for unemployed with bad credit score. The lender just needs an assurance that whatever amount you required needs to be paid on time. If you think that your income can return the amount then the chances are high for you to get the quick approval.But the concern of a jobless individual is that if he or she is earning from other sources will a lender allow that? The direct lender accepts the earning even if you are earning from rental property.
Well, most of the unemployed must be earning from somewhere or by doing some other work like freelancing or from zero contract hours, if a lender thinks that income is over the borrowed amount then the approval is likely to happen.
What is the process of Guaranteed Loans for Unemployed?
The process to get the approval on guaranteed loans for unemployed having a good credit score is important. You just have to fill the online application form with your essential details.
Do not worry about the lender’s income eligibility criterion because it can accept the earning from different sources. With the simple application process, you are likely to save your time to invest upon other activities.
Therefore, if you are assure about your income then you must search for the lender who can assist you to get over with the financial trouble with the help of an instant disbursal.
How much amount can I get If am applying for short term loans?
Well, there is no precise answer for that because the amount that is given in short term loans varies from lender to lender. If you are applying at Virgin Bucks, then you can get the amount something between £500 to £1500 and that too very easily. If approved, the amount will directly be sent into your account within a few hours of the approval.
The best thing about applying at an online lender is that you won’t have to stand in a long queue of the crowd to apply for the loan. It will take barely 3-4 minutes to fill the online application form where you will have to provide your basic details. So, you can choose the amount according to your need. Also, there are lenders in the market who offers short term loans for unemployed people.
Can I qualify for the payday loan if I am unemployed?
Yes, you can apply for payday loans even if you don’t have a regular job, but make sure that you mention your side income that you earn to manage your expenses. It is important for you to know that there is no 100% surety that you will get the loan as it will depend on the lender whom you will be approaching and the amount that you generate via your additional source of income.
Yes, there are direct lenders in the market who provide Payday Loans for Unemployed even if your side income is not that high but in that case, you will have to convince the lender that you will repay the amount within time. For that, you have to show the lender proof that your income is enough that you are able to manage your expenses without any difficulty.