Wednesday, September 5, 2018

Do I Have to Have a Job to Get a Payday Loan?

Do I Have to Have a Job to Get a Payday Loan?


The quick answer to this is that yes, you do need to be employed to get approved for a payday loan. The reason is that this is a loan based on income and your job, not on your credit score or credit history. A payday loan gives every working person an opportunity to qualify for loans and to borrow the money they need to get by or to get ahead. Although you do have to have a job, the other requirements are really easy to meet.

How to Qualify for a Payday Loan


This is one of the easiest types of loans to qualify for and to get approved for when you apply. In addition to having a job when you apply, you need to have a certain minimum monthly income, typically between $800 and $1,000. It’s a reasonable amount that almost any employed adult can meet. Other requirements include being at least 18 years old and being a permanent resident or citizen of the U.S. You also need to have a bank account so that a lender can make a direct transfer of the cash you’re borrowing and so that you can get it quickly and easily.

Your Spouse or Partner May Be Able to Get a Payday Loan


One possible solution to getting a payday loan when you are unemployed is to have your partner or spouse apply. If one of you has been laid off or otherwise find yourself temporarily out of work, it can be really useful to take out a small loan to help pay the bills until you’re back on the payroll. If your spouse is still employed, he or she can apply and get a payday loan and help keep the household going and the bills paid on time. Once you get a job again you can repay and make sure you can always apply for and get one of these loans when you need it.

How Payday Loans Can Help


When you’re ready and you or your spouse is qualified to get a payday loan, there are many ways it can help. When you have bills that are about to be overdue, for instance, you can get a loan in the exact amount you need and pay them on time, avoiding late fees and bank overdraft fees. You can use payday loans when you have payday coming up but you’ve already run out of cash. Put gas in the car, buy groceries, and cover other daily and weekly expenses until you get a paycheck in the bank and can repay the loan. And then there are emergencies and unexpected costs. Use a payday loan to cover the expenses you have in these stressful situations.

You do need a job to get a payday loan, but anyone who cares about you can help you out by borrowing. You can also look forward to taking advantage of these fast and easy loans once you get back into employment. Check out payday loans on line and through a mobile app for convenient cash when you need it the most.