Financial assistance for unemployed

by on February 28, 2012

Financial assistance for unemployed – Being human

With the waves of recession looming high across all corners of the globe, the poor have been left all the poorer. Poverty and debt has spread like an epidemic engulfing almost everyone in its clutches. With increasing numbers of pink slips, inflation and unemployment, it’s high time that the government take serious action to bring the situation under control. With individuals struggling to swim against the high tide waves of economic depression, life of a common has been reduced to utter misery.

The need of the hour is nothing but some kind of financial assistance for unemployed and needy, as this is the sole saving stick to save one from drowning in the waters of debt. Much of this problem can be cured if proper employment opportunities are obtainable. In the absence of an income, meeting the necessities of life becomes really tough. There are few options which an unemployed person can resort to, which have been discussed below briefly. Read on to know what they are.

To start with, it is essential that you look for the benefits which are provide to the unemployed individuals by government. Each country has varied departments looking into the domain of providing government aid to the unemployed. Every nation has its own assistance programs which work for the benefit of the unemployed. Individuals who qualify for these aids stand to gain the helping hand from the government side. Generally the government aid is provided to the individual for about 25-26 weeks while the person is in search of a job. The amount one receives is usually the half of what your actual earnings, and the receiver is liable to pay the federal taxes as well subject to the amount received. In adverse situations when you do not find an employment even after 26 weeks, then you can opt for the extended benefits program which provides the assistance for an extended span of 13 weeks.

The next option would be the mortgage rescue plan which has been created by the Federal Government for helping the Americans who are in search for jobs. If you have never missed your payments and now want to refinance your loan due to your financial disability or you are finding that the value of your home is far less in comparison to that of the loan which is required to be paid off, and you are almost on the verge of becoming a defaulter, this rescue plan might be of some help to you.

Other than this, there is also the provisional assistance program for underprivileged families, known as the TANF (Temporary- assistance –for –needy-families) which provides financial assistance to children below 18 years. These children are provided with cash benefits and are prepared for jobs in their life ahead. Apart from this, there are other related supports –services as well given to these needy children.

Though the above list is not exhaustive, it has aimed in pointing out the prime options available for an unemployed person and his family.

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