Are you on benefits and need a loan today? Here at Cashfloat, we believe that being unemployed should not hold you back from securing a loan as long as you have a regular income from benefits. We offer loans for unemployed and loans for people on benefits between ?300 and ?1000. The Cashfloat team makes every effort to allow you to borrow money online, even with a bad credit file, as long as you can afford the monthly repayments.
Before you apply for payday loans online, you need to carefully consider if this is the right product for you. Loans for people who are unemployed or that receive benefits (such as a disability living allowance) are expensive, and can easily spiral if not paid on time. You may want to first check if you’re receiving all the benefits that you’re eligible for. You can do that using the government’s online eligibility checker. go to the website You can also read our full guide to the UK benefit system, which we put together to help you navigate this ever-changing system.
Right here! You can apply for bad credit loans with us even if you are not currently employed as long as you can prove that you have a steady source of income. This can be benefits, pension payments or if you are getting COVID 19 related support from the government. Cashfloat specialises in loans for people with bad credit history, and we do not like turning people down because of their credit score. If you have been turned down for a loan and you think it may be because of your credit rating, we suggest that you begin the process of credit repair today. Improving your credit score gives you a much better chance for obtaining credit in the future.
Do I need a guarantor to apply for a loan when I am unemployed?
Cashfloat’s loans do not require a guarantor or any collateral. All our loans are unsecured. At Cashfloat, we understand that it takes time to find a guarantor and when you need money you want it fast. As long as you can prove you can repay your loan, we will be happy to consider your bad credit loan application.
Can I get guaranteed loans for the unemployed?
A responsible and authorised lender, we can not promise guaranteed loans for the unemployed. The reason for this is simply because all lenders must carry out credit and affordability checks before approving a loan. However, we do have a high acceptance even if you have bad credit. There are many loan sharks out there guaranteeing loans to customers, and this puts good people into debt problems when they have difficulty paying back the loan they couldn’t afford to get. Click here to learn how to identify loan sharks.
Loans for people on benefits
People on benefits may often find themselves in situations when they need that extra cash, whether it’s for a car that needs fixing or any other unforeseen expenses. At Cashfloat we advise you to only apply for short term credit if you need the money urgently and can afford the repayments. Learn more in this article about the day to day struggles of people living a life on benefits.
Can I get a loan if I am on benefits?
If you are unemployed and are on benefits, you can apply for a loan with us. Many people think that doorstep loans are the only kinds of loans available for people on benefits since you do not need a bank account and approval rates are higher. However, doorstep cash loans for the unemployed are often not well regulated and may be unsafe.