Getting a Payday Loan When You're Unemployed

Find out how unemployed people can apply for payday loans and qualify for them despite their lack of regular income.

Getting a Payday Loan When You're Unemployed

When you're unemployed, it can be difficult to find a lender willing to provide you with a payday loan. Many people mistakenly believe that those without a job are ineligible for such loans, but this isn't the case. Payday loan lenders are open to working with a wide range of customers, and they can adjust repayment and loan delivery plans to suit different lifestyles. To qualify for a payday loan when you're unemployed, you'll need to prove your permanent address, your resident status or U.

S. citizenship, and your age (which must be at least 18 years old). You'll also need to provide proof of your monthly income in the form of unemployment benefits. Additionally, you'll need an active current account in order to receive the loan transfer.

It's possible to get a payday loan online with quick approval even if you have bad credit and are unemployed. The typical time it takes to receive your cash is just one business day if accepted. Bad credit is not an issue, as most payday loans for the unemployed are given to people with bad credit and lenders are aware of this. As long as your monthly income is high and stable enough, you should have a good chance of getting a personal loan.

The sum may vary from state to state, but it's still possible to get the desired loan amount with an alternative income and a poor credit score. However, if you don't repay your loan, you may have to apply for a second payday loan to cover the first one, meaning you'll have to pay higher interest and fees. Unemployment benefits may not cover what you'd earn as a full-time employee, but they can still help you qualify for an emergency loan. Your lender will provide information about the specific terms of your loan and the APR and implications of non-payment of your loan.

It's easy to borrow money online with Viva Payday Loans without much paperwork or needing to leave home. It's advisable to choose the shortest loan term that you can comfortably repay - this means that there are less likely to occur unexpected financial burdens in the future and that you will receive a lower overall interest on the loan. Secured loan lenders will seize the collateral you deposit should you fail to complete the loan payments on time. Submitting a loan application does not guarantee an offer or approval of a loan. Some lenders may require you to send information by fax.

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