Can I Still Get An Instant Cash Loan If I'm On Welfare?
Yes, you can get an instant cash loan even if you are on welfare. Being on welfare does not mean that you are not vulnerable and may have to face times where you will need emergency cash. You may think that just because you are one welfare that emergency cash lenders may not look at you favorably and may automatically decline your instant cash loan request because you have no job. This is the furthest thing from the truth. In fact, to emergency cash lenders line guaranteed approval loans or pay day loan lenders, you are the perfect candidate.
Why Am I The Perfect Candidate For An Instant Cash Loan If I Am On Welfare?
You are a perfect candidate for an instant cash loan, a guaranteed approval loan or a payday loan even if you are on welfare simply because you have a steady source of income coming into your household on a regualar basis. The money that you are receiving from the government in order to pay for your living expenses is guaranteed, so the lenders know that their is a higher likelihood that they will get paid back.
How Should I Apply For An Instant Cash Loan Online?
You can visit different lenders and choose the best option for you. Payday loans, guaranteed approval loans such as Western Sky and other types of emergency can loans all have pretty much similar requirements. These requirements include:
- Name, address and phone number
- Bank account
- Proof of Income (In this case it will be proof of your welfare payments)
- Since you usually have to be 18 or older, you may also need to provide an ID or driver's license.
Make sure you get quotes from Different lenders. For payday loans, Payday Panda runs your information through a list of over 60 lenders and matches up your request to the lender who can fulfill that request. If you are looking for a long-term loan, pay specific attention to the APR or interest rate. You could end up paying back way more that is reasonable. Some instant cash emergency loan lenders have interest fees that would have you confusing them with loan sharks. So you have to be careful and choose a good loan with fair terms to help you out of your jam.
Other Things To Consider Before You Apply For An Instant Cash Loan
Make sure you can pay the loan back. If you have bad credit, many guaranteed approval loans will be approved anyway. It is a good way to improve your credit or it is a good way to destroy your credit. The choice is yours. Make sure that you have a plan to pay the money back on time so you do not incur late fees and fall deeper into credit despair.
You should never borrow money that charges you interest of 50 percent or more over a long period. The longer you have the loan, the more you pay back on interest and less on the principal. You could be paying for the loan 3 to 10 times or more over depending on the amount you take out and how long you take it our for.
Having said that-an emergency is an emergency and sometimes you will have to just apply for the emergency cash loan and pay the heafty interest rate just because you may not have had any other option. Only you know your specific predicament so make your decision wisely.