Hi there. Look, I am on benefits since 2016, but now it’s the first time I need to borrow some money in order to cover some expenses. Are there any options available for me? Could you please help me understand where I should start my search for a loan? What documents can I prepare?
Applying for a payday loan if you are receiving benefits (i.e., disability, social security or unemployment) is not much different from applying for a payday loan under other circumstances.
You Still Need to Have an Income
However, responsible payday lenders need to see some proof of your income.
In case you are on benefits, instead of furnishing pay stubs from work, you need to submit documentation which demonstrates you are receiving assistance.
What Documents Are Needed to Prove Your Income
This could mean a copy of a recent unemployment pay stub, an award letter for benefits, or so forth.
So long as the lender believes based on your documentation that you can pay back the loan on time, there is a chance they will consider granting it.
Reviewed by: Casey Bond
Date Reviewed: April 12, 2019
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