What loans and credit are available if you are not working or are unemployed?

  • 6 years ago
If you are not working or are unemployed you may find there is still credit available so long as you have some other income.

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▶️ VIDEO TRANSCRIPT

Loans & Credit for People not Working. There may be many reasons why you aren't currently working. You may be retired, you may be taking care of children or you’re between jobs. Or you may simply be a student investing in your future. But if you aren't working are you excluded from being able to obtain credit? Not working does NOT necessarily mean you don't have an income. You may have a pension, investment income or benefit income. So you can be "unemployed" but still able to get a loan or credit. There are many lenders who will consider an application for credit. But they will need to check "affordability". You don't have to own your home, and you may not even need a bank account! A problem managing credit in the past may not exclude you either. But it will reduce your options. So what loan and credit options could you consider? 1. GUARANTOR LOANS – lenders are often more willing to lend if you have a guarantor to support your application. 2. DOORSTEP LOANS – this form of cash "Home Credit" is managed face-to-face at your home. No bank account is needed. 3. PAYDAY LOANS – only use for very short periods, and you may find lenders are very cautious these days. 4. SECURED LOANS - loans such as Logbook Loans, or Homeowner Loans. But you will still need to show affordability. EXPLORE your loan & credit options. Use our QuickStart tool. Solution-Loans.co.uk/QuickStart