Where can i get a loan while out of work

dazzammm

hopefully an easy question.

Does any one know where I can get an unsecured long term loan while out of work ?
Ive already been turned down twice cos of my situation.

Vader123

Not many mainstream lenders will touch you if you have no employment.

Can you borrow from friends or family?

Vader

AsknAnswer2

What benefits do you receive, how long have you been receiving them, what do you need the loan for, and how much do you need? Are you a single person, in a couple? Do you or a partner receive child benefit for any children?

No, I'm not being nosey, I'm trying to establish if you meet the criteria for a loan from the Social Fund.

blondeandirish

I believe Credit Unions offer out loans, I'm not sure how they work and I think you have to have had a saving plan with them but what will you loose by searching online on how they work

Please try and steer clear of the companies that offer loans to families on low incomes and benefits. The interest rates on these are huge even though they give you the usual speel about you only pay back this amount on the amount you are borrowing, don't fall for that line.

Hope you get this sorted.

Jowo_2

You indicated in an earlier post that you are seeking a loan to pay off credit card debts and are on JSA.

Realistically you will never get a DWP grant or loan to pay off debts, nor a loan from a commercial company when you have no income and debts.

The credit union is a feasible option but a better one would be to post your circumstances on the Debt Free wannabee board where the experts there will tell you how to cope with debts while on benefits and various strategies for dealing with them without having to borrow money (i.e. take on debt to pay off another debt).

babymoo

The more loans you apply for over a short space of time will go against you aswell so if you have been turned down twice in the last 6 months I would give it a good few months before you apply again.

EltonJohnFan

The Jobcentre provides Crisis Loans and Budgeting loans to those on benefit, hope that helps and good luck

welshmoneylover

EltonJohnFan wrote: »

The Jobcentre provides Crisis Loans and Budgeting loans to those on benefit, hope that helps and good luck

I don't believe they will hand out loans to make debt repayments especially crisis loans. They are there for food, etc.

meeeeeeee

have you tryed provident, greenwoods or shopacheck?? they are doorstep loan agents that come to your house fill the form out and loan you upto £500 first time then £1000 when you have paid that and collect weekly payments from you. no credit checks and you can be on benefits

dazzammm

should have given more info. its to pay off expensive credit cards bills so would be a long term loan. (dont need money to live on yet but the smi cuts may change that, but thats another story)
I have tried to get a loan where the repayments would equal or less than the amount I am currently paying the credit cards companies (i.e. I wont be taking on any further financial commitment) but its a flat "no" cos i am on benefits.
seems a bit unfair that the decision is based on my circumstance rather than my ability to pay.

blondeandirish

meeeeeeee wrote: »

have you tryed provident, greenwoods or shopacheck?? they are doorstep loan agents that come to your house fill the form out and loan you upto £500 first time then £1000 when you have paid that and collect weekly payments from you. no credit checks and you can be on benefits

Please don't use one of these companies, I used to work for one of these companies and they pay very good commission rates to their agents........any company that pays that well must be doing well themselves and how do they do that. They do that by charging the people who are in desperate need!!!!
This is supposed to be a money saving site with good advise, I'm sorry but promoting these kind of companies is not offering good advise!