Systematic funds to overcome financial disambiguation
10 July 2010
Financial expenses that are unseen and unexpected are quite tough to deal with. More so, at a time when you are hardly in a position to arrange the funds required. It becomes more problematic for applicants who are relying on DSS benefits and are unemployed. Since, the need of the hour is to get hold of the funds required, within a short span of time; the optimal choice for these borrowers would be to go for cash loans for people on benefits.
It can be said that loans for people on benefit are designed primarily to suit the prevailing condition of those, who do not have any source of income and are sustaining their needs entirely on benefits. As these are essentially short term loans, the applicant get to avail the funds without the need arising to pledge any valuable asset as collateral. The approval of the loans comes quite instantly, which definitely seems to be a good idea.
Moreover, it does not really matter much, if the applicant is having serious credit issues such as CCJs, IVA, arrears and defaults. This is primarily because, the loan amount is made available irrespective of the financial; condition and credit history. Once the loan amount gets approved, you can utilise it take care of needs pertaining to paying medical bills, renovation of home, paying college fees, tour expenses and so forth.
However, prior to the availing of the loans, there is a certain eligibility criteria, which you need to fulfil. In this context:-
- The applicant should be permanent resident of UK and should have attained the mandatory age of 18 years
- The income generated should be precise enough to pay back the loan instalments’
- A valid checking account, so that the transaction can take place
- Identity proof along with valid residential address