How To Get Fast Emergency Cash Loans For The Unemployed And Broke

January 8, 2021 | Emma Frost

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The advent of COVID-19 has disrupted life and has had a major negative impact on the economy. Many people have either lost their jobs or have seen their businesses go under. While the vaccine and stimulus checks have provided a glimmer of hope, for most Americans the damage has already been done.

If you are also unemployed, broke, and need urgent cash then here is how to get emergency cash loans for unemployed people.

Before you start thinking about loans for the unemployed, here’s a list of non-traditional income sources that could help you qualify for loans.

Unemployment Benefits

If you have lost your job then chances are that you are getting a weekly unemployment paycheck. While this will just be a small portion of your salary, it can count as income when you apply for a loan.

Social Security

If you are retired or unemployed due to a disability or medical issue then you might be getting regular social security income. This can help you get approved for a loan as well.

Pension Or Retirement Income

Most lenders will also consider pension or retirement income including 401(k) and IRA distributions before approving a loan.

Alimony Or Child Support

Not many people know this but if you are getting alimony or child support from your spouse then this will count as regular to get a loan.

Spouse’s Income

If you do not have a job but your spouse is working then their income can also help you get approved for a loan. The caveat is that they must be co-signer to this loan as well.

Recurring Interest

If you have invested in a bond or an annuity that pays regular interests then this can also count as regular income and help you get approved for a loan.

 

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Emergency Payday or Title Loans For The Unemployed

Get A Credit Card Cash Advance

If you have a credit card then you can always take out a cash advance by simply using it at an ATM. Naturally, there are no credit checks or approval processes. However, credit card cash advances are extremely short term in nature as fees start accruing as soon as you use them.

Get A Payday Loan

If you really need an urgent short-term loan and do not have any valuable item that can be held as collateral then a viable option will be to get a payday loan. Payday loans are essentially considered a bridge between pay periods and you are expected to pay back when you get your paycheck, which is generally in two weeks.

If you are unemployed then other types of income that we have listed above can help you get approved for a payday loan.

Get An Installment Loan

If you need a longer-term cash loan then you can always avail the option of getting an installment loan. These loans are unsecured, meaning there is no collateral held against them. They are perfect for people who have a poor credit history and need a longer time to pay back.

With installment loans, you will know how much you need to pay every month or fortnight in advance.

Get A Title Loan

If you need emergency cash and have a car then you can always get a title loan. These loans use your vehicle’s title as collateral for the cash. Title loans can be used for emergencies such as sudden medical bills, auto, and home repairs, or unexpected travel.

Benefits Of Title Loans

Our online title loans in Tennessee come with many benefits. Some of them include:

  • Quick and easy process: The main advantage of title loans is that they are easy to acquire and ensure same day cash payment. With Tennessee Title Loans, the whole process is hassle-free and takes just 30 minutes. All you have to do to start is fill out an online application then head over to one of our stores. Once your loan has been approved, the rep will hand you the cash. At Tennessee Title Loans, you can get $300 - $2,500.
  • Bad credit isn’t a problem: Another advantage of title loans is that you do not require a strong credit history. While traditional lenders go through extensive credit checks, with title loans your car is good enough insurance so poor credit history is accepted as well.
  • Your car will not be requisitioned: If you get a title loan, you will be free to use your car as long as you keep on making the payments. You will have to ensure that the car is in your name and lien-free, meaning there is no outstanding claim against it.

How To Acquire A Title Loan Near Me

To acquire a title loan, you can start by filling out our online form on our website. Please clearly select ‘title loans’ – if you are looking for title loans – because we also offer payday loans in Tennessee. Then just follow this guide:

  1. Once you are finished, you will get a call from a representative who will ask you to visit a Tennessee Title Loans location near you;
  2. You will have to bring the car’s title, your car, and your driver’s license or ID;
  3. The representative will check your car and let you know the loan amount you are eligible for;
  4. After viewing your information and your documents, the rep will determine if you qualify for approval. If you are approved, they will help you finish the paperwork and hand you the cash;
  5. The whole process should not take more than 30 minutes, after which you can drive off with cash in your hand!

Getting emergency cash loans for the unemployed isn’t as difficult as you thought. Just follow our tips and you’ll be able to stay afloat while you look for another job.