Loans for Unemployed People on Benefits: Take out Pay Day Loan
Some Pay Day loan companies accept unemployed people who are on benefits. Welfare payments are considered to be the pay. Some Pay Day loan companies go so far as stating that these welfare payments are secure forms of income because you will continue to receive it unless you get a job. This situation is a win-win for the pay day lender because they will get paid one way or the other.
Unemployment benefits are also rising, for example in Wyoming where the unemployment rate is 4.5%, the maximum weekly unemployment benefit is $415 per week and the average weekly benefit is $328.34 per week. The Wyoming benefit recipient rate is a staggering 30%. Also the weekly maximum unemployment benefits in Washington DC is $359.00 and the average weekly benefit is $289.88. The unemployment rate is Washington DC is 9.9% and the benefits recipients rate is 24%. With such high unemployment benefits Pay Day Loans are prepared to lend out money as long as the borrowers financial affairs are in order and they live within their means.
To get started make a list of all the Pay Day loan companies on the internet and in your area. Ask whether they accept people on benefits, most faxless pay day loans accept people on unemployment benefits. Before you sign up to any loan you need to consider the amount borrowed and the amount you will have to pay. Think very hard and determine whether you have the means to make the payments. If you cannot afford the loan and default on any payments hefty charges will be added making it harder to pay off the loan. Once you've considered the loan amount, repayment, interest APR and charges you should be able to make a fully informed decision.