Unemployed loans

by on March 15, 2012

Unemployed loans in the UK:  The issue of unemployment is not just a hassle but also a constant pestering headache till it is cured. This is the root causes of the other evils like scarcity and indebtedness. Many have the notion that by availing loans one can tackle the peril of unemployment. Thus they look for avenues to borrow money from banks and other financial institutions. But the sad reality remains that lenders do not provide loans to unemployed individuals as they have no security for the return of their lent sum.

However individuals caught in the waves of unemployment with no loans available from most of the financial institutions need not despair, as there can now apply for the ‘same day –no-deposit’ loans which are specially designed for the unemployed lots. One can apply for these loans without any fear of them being rejected. These loans do not require you to submit any documents for availing the same. There are various kinds of loans available in the market, to help the unemployed individuals.

To start with, there are the same-day-payday loans. These loans are sanctioned on the same day of its application. These loans are meant to cater to the short term demands of individuals. To avail these loans the applicant need not deposit any kind of collateral and hence forms quite a handy loan for all sorts of borrowers. The lenders offer these loans at higher interest rates which makes then quite popular among the lending community.

We all know that emergency can turn in any time and it is then when we think of what is to be done. Being redundant is not a good experience especially with a fault of your own. But at the end of the day when you face the reality, you need to cope with the same. It is essential that you know your rights when you meet with this situation. You can even check out with the online –benefit –advisor to know the benefits you and your family is entitled to.  While you claim your redundancy pay, then you might be asked on the payments (if any) you have received from your past employer. The advising bureau would let you know the effects these payments have on the redundancy claim you make.

If you have been made redundant, then you are entitled to a legal redundancy pay in situations you have worked for the employer for a span of minimum two years. The amount which you would be entitled to would be credited your savings account after verification of the criteria’s are done. You never need to ask for a redundancy pay from your employer, instead they should pay the same to you spontaneously. In situations you are not paid your redundancy pay then you can report to the ‘employment-tribunal’.

The redundancy pay you receive would depend on few basic things like the time span for which you have worked the same employer, your date of birth, and the pay your earnings from the company. You can be provided with the unemployed benefits and assistance for a period of maximum twenty years.

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