Is It Smart To Get A Guaranteed Personal Loan If I Have Bad Credit And Unemployed

When you are unemployed and need a bad credit guaranteed personal loan, you may think it is ok since you need money now.  However, you should think past today. Think, if you are unemployed, how are you going to afford payments on a bad credit personal loan?  Surely, most personal loans for people with bad credit or loans in general do not have payment deferments until you find a job, so how would you afford to pay the loan back? Although, there are lenders who will give you an emergency personal loan, even if you have no job and bad credit, it is not something you should get into.  As desperate for money and help as you may be, adding more debt to your already strained situation, is not a prudent thing to do.  Find other options to get by until you find another job. 


But The Money For the Personal Loan Is Guaranteed Even With Bad Credit, Why Shouldn't I Take It?

Even though you many be getting an emergency cash personal loan while you have no job, no collateral and no money to pay it back, there is usually always a catch with loans like this.  There are some legitimate "No Fax Payday Loan" that you can borrow even without a job, but those are usually shorter term loans.  If you have an idea of how you are going to pay back the money borrowed from a "no fax payday loan" then that might be a more feasible and sensible option than trying to get a guaranteed personal loan with longer terms, higher interest and no way of paying back the money in the long-term. Why shouldn't you take it? Because you can't afford it! 

But I Really Need Money And I Have Been Looking But I Can't Find A Job

If you need money to pay your rent, buy food, pay bills or pay for school, fortunately there are other options.  Before you resort to taking out a high interest emergency cash payday loan with no way of paying back the money, you should consider the following:

Find A Way To Make Quick Cash Until You Can Find A Permanent Job

There are a score of things that you can do to get money while you are trying to find a permanent job.  If you are saying to yourself "I Need Money, No Job and I Need Money!" that is the first step to get into that quick-thinking panic mode, so you can get out there and do what you need to do to put food on the table and keep a roof over your head.  The first thing you should do is think of legal things you can do today to get yourself some money today or even money in a few days.  Going door to door and offering services is a good way to get fast cash when you in need of it. 

Ask For Help From Churches and Other Religious Organizations and The Government

First, find out if there are grants to help you pay your bills when you are unemployed.  There usually is help from the government for those who are trying to make ends meet while they look for a job.  Call 211 from your telephone or go to to see if there is a social service organization in your area that can help you with food, rent and medical assistance. Many churches also have resources set aside to help members of their community put food on the table and pay their rent while they are in between jobs. You may also want to try "Free Money, They Don't Want You To Know About," by Kevin Trudea for a list of ideas.

Sign Up With As Many Temporary Employment Agencies As You Can!

A temporary agency can get you temporary work while you still look for a permanent job.  In many cases, you can get a permanent job from working on a temporary assignment.  You should sign up with more than one, at least 3 or 4 agencies in your area so that your name is actively on a list of people needing work.  Don't just rely on filling out job applications, with a temporary employment agency, you have others looking for jobs for you.  They have an incentive, because they get paid too.

Borrow The Emergency Cash You Need From Friends and Family

As difficult as this may be, this should probably be the only source of personal loan that you should borrow while you are unemployed.  You should also be very honest with them and let them know that you don't know when you will be able to pay it back.  Don't say "I'll pay you back next month," when you know you don't have the means to do so just yet.  Be honest and tell your family and friends that you will pay them back as soon as you get back on your feet.  There is an old saying that you shouldn't lend money to friends, however, it's better to borrow from a friend than from a predatory lending company that may be trying to take advantage of your present situation. 

Books On Getting Money While You Are Unemployed

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You can get these books on free money and finances from Amazon.

Free Money When You're UnemployedCredit: Help! I Can't Pay My Bills: Surviving a Financial CrisisCredit:


Think Before You Borrow!

Ultimately, it is up to you if you do decide to borrow money from a guaranteed personal loan lender even though you have no job and bad credit.  If you speak to most credit counselors, they will tell you that combination is a disaster just waiting to happen.  However, if you feel that you are in a desperate situation and you need to borrow money from a no fax payday lender or another source for guaranteed personal loans or guaranteed signature loans, then at least make sure you read the terms very carefully and have an idea of what you are going to do to pay this money back.  You should NEVER borrow money without the intension of paying it back because that makes things worse for everybody.  Before you borrow, check to see what services and grants the government can offer you while you are unemployed.  Getting a personal loan while you are unemployment and have bad credit should be the very LAST thing you should consider.