Getting A Loan

[Ben1996]

Which website can I get a loan when unemployed and without putting down monthly outgoings and without it searching for lenders

[bednobs]

I'd be surprised if there were any responsible lenders that do that. You might be able to get a loan from your friendly neighbourhood loan shark though

[Buenchico]

All lenders are legally obliged to check that they only offer loans to people who can meet the repayment schedule. (The rules were tightened after the world financial crisis of 2007/2008, which was largely caused by irresponsible lending). So any lender is going to check your credit history, which will show any existing loans.

Loans for unemployed people are therefore very hard to come by and, because of the increased risks that lenders face, tend to come with very high interest rates. Using a comparison website, such as Money Supermarket, will help you to see what might be available to you:
https://www.moneysupermarket.com/loans/loans-for-unemployed/

[andy-hughes]

You can always get a loan, the only variable is the size of the interest you are going to pay back on it.

Simply - the bigger risk you are, the higher rate you are going to pay back.

You need to think very carefully about borrowing money while unemployed, you may see a short-term solution that will actually saddle you to years of repayment ending up with you paying back many times the amount you borrowed.

Have a chat with the Debt Counselling Service at your Citizens' Advice Bureau before you sign anything - they will give you some unbiased help and may avoid getting into a worse situation that the one you find yourself in now.

[pixie374]

Doesn't Universal Credit do advances? That might be safest.

[ToraToraTora]

your only option is an inverse loan me old china, unless you want a gazillion % interest with your kneecaps as collateral.

[Jackdaw33]

What is an inverse loan?

[TonyV]

These people helped me out when I needed a loan with a poor credit history


https://www.clockwise.coop/card-account/?utm_source=google-search&utm_medium=CNS&utm_campaign=credit-union-leicestershire&;gclid=Cj0KCQiAoab_BRCxARIsANMx4S6thq3QT5boQ2ykWzweowRtvRS8wCgDRW_Yuukata0OhGYAKCWlnHIaAlBsEALw_wcB

[ToraToraTora]

well, JD, everyone like Ben who wants a load have a figure in mind that they can pay each week/month (lets call that N). Usually they cannot, some weeks perhaps but invariably they cannot afford it. So if they do get a load it will be at an extortionate rate they they'll never repay and it will cost them a lot more than actually saving N each week/month until they have the money to buy what they wanted the cash for in the first place, hence, inverse loan.

[Buenchico]

^^^ Tony's link goes to the website of a credit union which only operates in Leicestershire. His idea of approaching a credit union is certainly a sound one but you might find this a better link if you're not in Leicestershire:
https://www.findyourcreditunion.co.uk/

[TonyV]

Ok Chris well spotted.