subject: Cash Loans For The Unemployed- Hassle Free Finance For The Unemployed Individuals [print this page] Unemployment is like a menace in the individuals life. Jobless persons face many financial hardships in their daily life. Furthermore, nobody likes an unemployed person either in the family or society. If the person remains unemployed for longer duration and
does not have any family support, then s/he might fell into the debt trap. To overcome with this unpleasant situation, persons should apply for the loans of the banks.
The cash loans for the unemployed are intended for such people. These loans are also called unsecured personal loans. The persons can apply for this unsecured personal loan
subject to fulfillment of some criterion of the banks. They are individuals must be UK residents and aged 18 years or above. Second, the persons must have valid savings account. Third, the individuals should have monthly income of 1,000 pounds from other sources. These advances are provided by the financial companies for short duration ie, 14 days to 31 days. The processing of loan applications does not involve any paper documents or fax machine. Therefore, the person applying for this advance may get the fund directly into his/her bank account after 24 hours of loan approval.
The cash loans for the unemployed is open for all categories of persons irrespective of their past credit status. Therefore, people with CCJs, arrears, Bankruptcy cases etc. may also apply for the unemployed advance. The loan amounts to be sanctioned by the banks can be any amount between 100 dollars to 1500 dollars. The borrower with this amount can meet his/her short term debt obligations like monthly grocery bills, petrol expenses of the car, fees of the kids etc. The interests levied on these advances is very high. Those failing to pay back the banks loans may face severe financial consequences. The penalties may also include legal actions against the defaulters and increased interest rate.
