Payday Loans for single parents
Raising children on your own as a single mother or father is already a huge challenge, but when unforeseen circumstances hit, problems can become magnified beyond belief. Single parents often need to worry about having enough money for food, clothes, and entertainment for their children, on top of normal expenses such as rent and utility bills. It can sometimes feel as though you’re facing a dead end. Yet, single parents have a way out. There are a range of solutions to your problems if you’ve found yourself stuck in this situation.
Representative Example: Amount of credit: £500 for 3 months. Total amount repayable of £823.26. Interest: £323.26. Interest rate: 292% (fixed). Representative 1192% APR (variable).
Single parent loans
Try for the following options:
- Family Benefit – If you’re a single parent who makes less than £50,000, you can qualify for family benefits. This type of benefit can potentially pay £20,30 a week for one child and £13,40 a week for any other children you might have.
- Income Support – Single parents who have a job with low income might benefit greatly from income support. This programme can provide as much as £57,90 a week depending on your income and situation. You can use this money to buy milk, vitamins, and other weekly groceries.
- Health Benefits – Low income families of any size can qualify for free health benefits.
- Payday Loans – This type of lending option can provide financial assistance for anything that you might need between your paychecks.
Why payday loans for single parents?
Payday loans for single parents are one of the fastest ways to get the funds you need for any necessities at hand, such as medical or dental bills, food, clothes, accidents, and so on. It’s common for families to run out of money unexpectedly because of unforeseen issues.
For single mothers and fathers who have poor credit scores but need a loan, this is the opportunity for you to sign up in hopes of getting approved. The following criteria must be met in order for you to increase your chances of getting approved for a loan:
- Proper identification
- Appropriate address
- Must have a bank account
Loans for single parents on low income
For single parents without a job or any of the requirements mentioned above, there are sources of additional income, such as financial aid, pension and benefits. Going with these other alternatives might actually be a better option for some single parents.
Still, if you want to apply for a payday loan because you are confident this is the right decision for you, then here are the benefits:
- Payday loans are fast
- No excessive paperwork
- User-friendly terms and conditions
- Simple online application
- Safe and secure
Can an unemployed single mothers qualify for a emergency loan?
It’s possible. You are to fill in the application form.
How to Apply for Payday Loans for single parents
Since other alternatives are available, make sure that you’ve done your research and carefully thought through your options before you apply for payday loans. If you’re not able to pay back your loans on time, you might be penalised and charged according to your agreement contract. That’s why it’s important for you to do your research on the different penalties, interest rates, and fees that come along with payday loans before you make the decision to apply.
Once you have carefully considered all of your options and feel confident that payday loans are right for you, just apply below.