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Are you unemployed and need money now? When you are out of work with little savings in the bank, you should try to get help from the government first and see if they can provide financial assistance for people with no job. Dealing with unemployment without assistance from the government can be a hardship for low income families and if you are already struggling to cope with everyday expenses, all the more you should take the initiative to get help for free government money rather than trying to get a personal loan against unemployment.

Dol.gov – Visit the website of the United States Department of Labor. They have Unemployment Insurance(UI) programs which allow you to access unemployment benefits, which are payments given to unemployed workers, often on conditions that they are actively seeking work and do not currently have a job.

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To be eligible for free unemployed money for people without a job, you have to file a claim and be able to meet the State requirements. Claiming unemployment benefits can be made through a state unemployment agency and to find out how to file unemployment in Texas, Florida etc, see this map of unemployment claim offices to select the appropriate one.

Once your claim has been submitted, a determination will be made to assess your eligibility for UI benefits and the amount of money you can get every week, and usually it takes about 2 weeks for payments to begin. On average, the weekly unemployment cash payment is around 36 percent of the individual’s average weekly wage.

With the UI benefits, it opens up another avenue for the unemployed to get a fast loan from direct payday loan companies. Prior to the creation of these unemployment loans with no upfront cost, getting a bad credit loan when you are unemployed is almost never heard before. However, with payday lenders making inroads and entering the mainstream loan market, some online cash lenders now provide unemployed loans for people receiving unemployment benefits.

In principle, it means you can use your UI benefits to qualify for short term payday loans even if you are without a job and have bad credit history. If you are unemployed and need money fast, you could try getting a small 600 loan but lest you forget, these type of non-bank personal loans are not cheap and may get you into more money troubles so unless you have exhausted all options, you should avoid these high risk signature loans that you can borrow with a somehow easy income check.

Posted June 19th, 2011. Filed under Personal Loans Unemployment

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