Managing your finances while living on benefits is a huge challenge. Therefore, finding an additional source of funds that may be temporary becomes important. It helps you easily manage your essential expenses. Loans for people on benefits are the specialised loan products available to those surviving on government benefits. This can be unemployment benefits, personal independence payments, medical benefits, etc.
Online direct lending solutions take a liberal approach to offer short-term funds at reasonable rates to people living with the benefits. Here, anyone with a proven capacity to pay loan instalment, can get credit for a short-term. If you are going through such a situation, opt for this option. Bargainloans offers these loans based on the individual's financial circumstances.
For this reason, each of our loans is personalised. The result is that you get affordable rates at manageable instalments. Before your pending bills get worse, apply for funds today. Anyone who is living on benefits and needs a loan today from a direct lender in the UK can contact us now. You just need a few relevant documents proving you received the benefits in digitised form.
After calculating your credit purchase power, we will approve your funds instantly. Use the money for any purpose, as there is no limitation on using the money. Hence, think less and act more if you need an amount for many small needs.
Loans for people on benefits from direct lenders have the same process as other short-term loans. The entire process is completed in three steps. From application to fund transfer, every step is completed online. Therefore, you experience paperless documentation and speedy processing.
All your financial and personal information is verified online. You do not need to work hard while applying or collecting documents to submit your application. You need proof of salary or income for the previous six months. Besides, bank statements of the same duration are also necessary. The last but important detail is your verified residential address.
These loans are much cheaper than instant payday loans for people on benefits and have many more advantages. This is why people struggling with financial crises, irregular income, or joblessness choose such borrowing options. The financial support they need while surviving on the benefits is easily fulfilled through these loans
Let us know in how many ways this one loan product can help you.
Yes, it is possible if you are living on benefits and need a loan today from a direct lender for bad credit. However, for this, you have to fulfil some specific conditions. Besides, bad credit loans have some different features from other standard ones. First, you should know what things you must remember while applying for a loan with bad credit.
Indeed, preference is for payday loans for people on benefits with bad credit, considering their super-fast funding. However, if you have 24 hours, think that this alternative to loans for benefits is not bad. Payday loans are helpful if you need money in an hour or two. But that instant funding is compensated with a high rate of interest. Therefore, considering the loans on benefits without a payday option is also a choice.
Most people choose us during their financial struggle due to our committed and borrower-friendly lending policies. No credit check payday loans for people on benefits are examples of customer-focused lending. Before applying, get a free loan quote without a hard credit check. Several features are part of our loan policies and solutions to facilitate timely funding and a smooth borrowing process.
Better communication
You can communicate better by interacting with a direct lender, which is us. You know exactly where your loan is being processed. Therefore, it is possible to bargain confidently about the loan terms.
Handy process with high approval
Whether you apply for bad credit loans or Christmas loans for people on benefits, our loan procedure facilitates handy and fast funding. Hence, you can easily apply for funds from your mobile phone, even during your daily commute or while enjoying your vacation. Besides, flexible policies approve 99% of loan requests.
No stress and expense of broker fee
Due to the absence of any mediator or broker in between, neither your time is wasted nor do you need to bear any extra cost. Due to no interference, there is no confusion. Also, for their profit, brokers often suggest only some specific lenders.
Faster loan solutions
Beyond Imagination, we process your application in a very short time and transfer funds to your account. Irrespective of your financial circumstances, the borrower's repayment capacity is most important to us. If you have strong purchasing power, immediate funds transfer is also possible.
Acceptance of all credit histories
You do not need to be afraid of your credit score while applying for a loan. Apart from good or poor credit scores, we treat applicants equally, irrespective of credit score status. We offer funds at the best possible rates. However, the interest rates are slightly higher, but customisation helps make every loan offer manageable.
Yes, at Bargainloans , we count your earnings from benefits as income. This is because only based on that will we calculate your repayment ability. However, not all lenders do the same. Some loan providers do not consider money received from benefits as income. But with our flexible approach, you can expect a smooth process.
You can apply from £1000 to £25000 through loans on benefits. However, our experience usually says that the minimum amount people take is at least 2K pound loans on benefits. However, only your loan affordability decides the loan amount based on the following factors.
You may or may not have a bank account to get the loan. We do not need a bank account if you are applying for doorstep cash loans on benefits. This is because this loan product is already designed for those with no official bank account or physical or medical condition.
Applying for a loan here includes a soft credit check process. This does not leave a credit search footprint on your financial records. Therefore, your rating does not go down. It does affect your credit score, but only when you miss repayments or default. Due to credit score checks only, lenders can quickly provide you with a perfectly personalised deal.
The maximum loan term is 3 years. However, you should know that the loan tenure depends on your credit purchase capacity. As per your financial ability, your repayment and interest rate are decided. Also, the loan amount is another decisive factor. Whether you are applying for 3K pounds in the UK or the maximum of pound 25000 will affect the decision. Still, your financial condition is always the most decisive factor.