Losing a job can be really devastating, especially when the majority of your total income comes from your desk job. Without saving to fall back on, it can become really difficult to manage things. In such a tight situation, managing all your expenses including bills, food, basic utilities, rents and other monthly expenditures will become a behemoth task to achieve. You could ask any of your close friends or families for some financial assistance but if you feel that bringing financial matters might sour the relationship that you have with them, then you could go for professional help.
Going for the loan might sound like a good alternative to get the much-needed cash in this difficult time. However, it might demoralise you for a bit that getting a loan without a steady income is not that easy than it might look from the surface. There are very few lenders who offer kredit ohne einkommen to unemployed people as the very few lenders want to the risk of giving debt to someone who is certainly deprived of regular income. Still, this doesn’t mean that the door of borrowing a debt is entirely closed for such people as there are certain loan products that are specifically designed for the unemployed people.
Here, in this blog, we have prepared a list of the funding options that you can go for if you are going through unemployment.
1.Doorstep loans
The first name in our list is doorstep loans which can easily available and the amount is directly given to the borrower by cash. So, the agent of the lender will come to hand over the cash that you have requested and similarly will come again to receive the repayments. The amount disbursed in doorstep loans are generally low but will be enough to pay up for the basic things which are necessary for daily life. Here you won’t have to provide any kind of guarantor to get the approval and you can choose the repayment options and could either go with the weekly repayments or monthly as per your convenience.
2. Payday loans
Payday loans are basically short term loans where the borrower has to pay the entire debt in the next paycheck month. Now, you must be thinking about how I can get this loan if I am unemployed. Well, there are few lenders in the market who offers payday loans for unemployed people but earning some income due to freelancing works. In payday loans, you won’t have to go through any credit check and the approval rate of this loan is quite high. So, if you are an urgent need of money, then payday loans can be a good option to go for.
3. Secured loans
There are various factors that the lenders check when borrowers go for a debt. So, if you are unemployed, then you could go for secured loans where you will have to secure the loan by providing collateral for the security. You could present any valuable assets such as car, house or any other expensive things as collateral whose worth value will be enough to get the amount that you are applying. However, it is important for you to know that if you fail in the repayment of the loan, then the collateral that you have provided will legally fall into the hands of the lender. So, opt for the loan only when you are ready to take this risk or else, you could go with the other option,
4. Credit Cards
The last name in our list is the option for which you won’t have to run anywhere and i.e. use of credit cards. If you have a credit card, then you use to manage all the expenses that you are struggling to pay right now due to this unfortunate situation. However, keep in mind that the interest rate of the credit cards is quite high, so make sure that you repay the debt that you owe on time. Also, try not to exhaust the limit of the credit card that you have been given by the agency as doing so can affect your credit score drastically which is one of the most important aspects that any lender checks before approving a loan.
Wrapping up, these were the lending options available for you if you are unemployed and do not have any steady source of income. You can go with any one of them with which you are comfortable with, but make sure that you learn about the loan thoroughly and find the best lender who can offer you the best deals possible.