Your source of income dry-up when you can not move around much. This especially happens with physically or mentally challenged people. For lack of monetary support, often they fail to pay urgent bills and may end up in debts. Benefit loans are meant especially for such people who can not have cash from elsewhere. The loan is approved and given within 24 hours. But they should borrow from the lender carefully.
Before you apply for these loans, ensure that you have at least 500 in your savings bank account. You should also be getting a fixed amount of monthly benefit payment from the DSS. Do not worry about your bad credit record of making late payments of having debts in your name as the loan is given without making any credit checks.
Benefit loans are given for a very brief period of two weeks. The repayment date of the cash is fixed as your next day of getting benefit amount from the department. The loan amount ranges from 100 to 1500.
You can make use of the borrowed cash for any personal purpose like getting rid of old debts, paying your bills on electricity and grocery or meeting daily expenses. Your past bad credit record is not checked at all. The lenders believe that you can repay the loan from the benefits payment from the department. So, late payments, defaults and arrears are no barriers in borrowing the cash for urgency.
But a drawback of benefit loans is that they are costly for physically challenged people. Due to short-term and lack of security, the lenders usually charged interest at high rates. Still, do not be discouraged. There are lenders who do their loan business online and offer competitive rates to beat the tough competition.
Compare the lenders and find out other sources to locate competitive offers of benefit loans for your circumstances. Make doubly sure that you repay the cash without delay and without extending the repayment period. Do not be trapped by the lenders into debts.