I’m Unemployed Can I Get A Loan?

I’m Unemployed Can I Get A Loan?

A lot of people these days are chatting about the pros and cons of payday loans and whether or not they are actually any help at all or just a hassle that will make your situation worse. With the country currently being in a recession with people finding it a lot harder to pay bills and just generally have a good quality of life many of us are turning to these quick term lenders to give us a hand out for those tricky financial situations, depending on your stance on the topic you may see this as a bad thing or a good thing.

The latest topic however is turning to people without jobs and what they are supposed to do in such situations for example they find themselves in some kind of emergency that would require them to pay money in a very quick timescale they may only have one option, one of these fast payday loans for unemployed people. The problem however with this service is that unemployed people with no inclination towards actually paying back the payday loan or in fact getting a job to do so, these people then find them selves in hideous amounts of debt and it often then one way or another becomes the government’s problem to deal with which obviously is funded by us, the tax payers money.

So with all this in mind it should be pretty obvious that yes you can get a payday loan if you are unemployed however only if this is for a short period and you are actively looking for a job so you know that you will be able to pay it back in the allocated timescale. It is still quite risky doing so but at least you will know to be sensible enough to make sure you have work and an income coming in for when the bill is due.

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Primary author at Loan Owl, keen blogger and founder of various finance websites.

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