Loans for Unemployed
Unemployed loans are available when you need a loan but you are not currently working. Getting a job can be pretty tough. Whether you’re actively looking, or between jobs, being unemployed comes with its own unique set of challenges. If you’re unemployed, either with or without Centrelink benefits, times can get stressful should any unforeseen expenses arise. Even with bad credit, there are definitely options for you to get back on top of everything.
If you do not have a regular income, getting a high interest loan to help you through the tough times is not ideal. Though it may seem like an easy option, some micro loan providers make their profits by making you repay a much larger sum in the long run.
Loan Application Information for Unemployed
There are still options for loans if you have been unsuccessful applying to a lender because you are unemployed. There are some official means to help you when financial situations can be difficult.
Loan Options for Unemployed Person in Australia
- No Interest Loan Scheme (community): Small personal loans with no interest rates and no fees, to help with any emergency that affects your living conditions;
- StepUp (non-profit): Small, short-term loans with low interest rates, no fees, and can used to help with your car expenses, household expenses and other living expenses.
- Charities (non-profit): Most charities provide assistance to those in need, especially the unemployed. They could help you with money, food, and even a place to sleep.
Another avenue to help you in your time of need is to turn to friends and family. Of all your options, those closest to you would offer you far more than just financial support, and could even help you get back on your feet and out in the workforce. If you are receiving government benefits then consider options regarding Centrelink loans to assist you.