To secure a loan while unemployed, search online for lenders that specialize in high-risk loans and have programs that do not require employment information on their applications. These applications can be completed in minutes. Be prepared to provide your address, Social Security number and bank account information.Know More
Search online for multiple high-risk lenders. Before applying, compare each lender's rates. There are many loan interest rate comparison websites available to help you judge what a fair rate would be for you based on your credit profile.
Verify that employment is not a requirement before applying for a loan. The lender pulls your credit report during the application process, which lowers your credit score. Since qualification and interest rates for unemployed people relies heavily on credit scores, be certain not to harm your score with unnecessary credit pulls.
Be sure to calculate your income from all sources, including unemployment, investments, Social Security income or disability income. Before accepting the loan, determine if the payments are affordable for you.
Making your payments on time helps you to build a positive credit profile and makes borrowing easier in the future.
To get a loan while on SSI, apply through a bank or loan company as any other consumer would. There is no special process that allows SSI recipients to qualify for loans specifically.Full Answer >
Consumers can get a loan from World Finance by first selecting the Start Application tab on the company's official website. They then have to enter their zip code to find the closest World Finance branch location in the local area.Full Answer >
People with bad credit can get loans by exploring alternative options to banks, such as credit unions or friends and family; bringing a cosigner on board; and using a home equity loan or a home equity line of credit, according to America’s Debt Help Organization. Bankrate recommends checking credit reports and fixing any errors and applying for loans at places where the requester already does business.Full Answer >
People without jobs can go to pawn stores for loans, get home equity lines of credit or ask someone to co-sign on the loan. However, it helps if they have other income sources, such as unemployment or alimony payments. There are also no-documentation home mortgage loans.Full Answer >