If you find that your cash flow is becoming an issue due to your being unemployed and you need personal loans for $500 with 90 day payback, a payday loan with 12 weeks to pay back is one of the solution for you to get cash now for 100 days.
There is the growing trend among payday loan lenders to cater to the financial needs of people who are unemployed and looking for cash where they can borrow money without a salary, never mind if it means having to pay higher finance fees. With that in mind, some enterprising personal loan lenders for bad credit are offering quick approval no-job loans to people with unemployment benefits.
These payday loans on unemployment are essentially the same as those short term 60 day loans for salaried workers, except that a person with unemployed benefits will use that as "income" to qualify for payday loans with 18 weeks with no credit check.
At best, these unsecured loans on benefits can be availed for relatively small amounts, up to the tune of $1000 and if you can demonstrate that you are presently being given cash benefits for the unemployed by the government, you can usually be approved for $500 payday loans to cover any emergency need. At worse, the interest you'll be paying may be substantially higher even by the standard of those expensive bad credit loans and while some lenders may grant you payday loans with 12 weeks to pay back, you may actually find that you are just taking a loan extension by having to pay additional charges for the convenience of having a longer repayment term.
Written By adi mulias on Tuesday, March 15, 2011 | 9:27 AM