Even when you are unemployed, you still need money to pay bills, buy groceries, and meet your everyday expenses. Sometimes it is easy to panic and not see all the options available in a stressful situation. Here are a few things to do to avoid financial stress while you are unemployed.
Remember that if you do not talk to them, they cannot scam you. Once you hear the sales pitch or they begin to make threats, HANG UP! These scammers will threaten to sue you, garnish your wages, say you will be arrested, or have the ‘debt’ taken out of your bank account.
If you have poor or bad credit, do not be discouraged. More than 50% of all approved payday loans are for people with poor or bad credit. Why? Because lenders know that online payday loans are likely the only way this underserved part of the community can get money when they need it the most.
Payday loans and online loans are probably the fastest and easiest way of getting small cash loans when you are in a tight financial situation or have emergency cash needs. You can go online and apply in 5 minutes or less and get an answer almost immediately. Most people with poor credit use these loans as they do not have access to traditional lenders or other lending options.
Cash advance loans can be auto title loans, payday loans, or even credit card advances. Most people with emergency expenses or temporary cash shortages will opt for a payday loan. As noted below, auto title loans are not legal in most states, and anyone considering a cash advance loan has probably already exhausted all limits on their credit card(s).
Payday lenders do not run hard credit checks when you apply, so your loan does not affect your credit scores either positively or negatively. These loans do not show up on your credit reports even if you have accepted a loan. Thus, they do not help you build your credit.
