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5 Reasons Why You Should Contact a Broker for Unemployed Loans

Have you recently received a pink slip? Looking for additional sources of income to support the basic life expenses? If you have failed to search for short term funds for your credit situation it’s time you look for professional help of a loan broker. They can help you seek appropriate unemployed loans on time. Know more on why you cannot miss to meet a loan broker at this point in life.

Unemployment brings uncertainty. It cuts down a steady cash supply while the expenses remain the same. The situation turns into a vicious circle wherein you are left to look for additional means to meet your continuous expenses. In the absence of a monthly salary, finding out loans for unemployed is not less than walking a Burma bridge in a stormy weather.

You need appropriate financial support to ensure that short term job loss doesn’t bring a long term impact on your credit report. There are basic household expenses, monthly loan instalments, credit card balance and a lot more you cannot miss or it would ruin your credit report with red flags. The conventional financial companies never lend to unemployed people without a stable income source. So you need professional help of a loan broker to search for a practical deal.

5 reasons why you cannot miss contacting a loan broker

Loan sharks                           

If you decide to contact a lender directly online, chances are high that you may get trapped by a loan shark. A lot of loan sharks are active in the UK loan market. These are unscrupulous financial companies who are always on a hunt to locate desperate borrowers and offer loans without a proper credit check. They offer terms designed to make borrower fail the loan repayment. On late or failed repayment they levy hefty charges and elevate interest rate at unimaginable proportions. They use hard means to recover their dues and make life miserable for borrowers. The FCA has strict guidelines against such loan sharks but mostly such companies short live on the surface of ocean and reshuffle their identity with new names.

However when you contact an FCA registered loan broker, your stakes are comparatively safer. The brokers generally have good ties with lenders and deal with well known and legitimate lenders only. Contacting a loan broker saves you from loan sharks as brokers do not deal with just any lender.

Free advice

A registered loan broker works according to FCA guidelines. Most of the registered brokers extend their services free of cost. Being a person in despair, you can use the professional advice and save a lot of time. You can use maximum of your time looking out for a job as it should be your only priority at this time. The broker can share the responsibility of searching a legitimate unemployed loan

Credit score and past history would not matter

Without a job, your credit score would not be of any help to you. However broker being a professional loan adviser would search for unemployed loans without making your credit score an issue. They would establish your credit worth using your benefits check and past repayment history.

Affordable instalment

A broker looks for practical loans for people with credit issues. Whether you seek short loans for unemployed or need long term loans for unemployed (such as debt consolidation), the broker can help you avail ease of repayment and manage your debts. They are proficient to search for low interest rate and easy terms according to your credit situation. With unemployment, a broker can even search for delayed repayment plan. So you should put across your needs clearly to the broker and they would search the best match loans.

Credit improvement

A genuine broker would go a step ahead and share credit improvement advice at the same time. By searching for affordable loans, they help you make a repayment plan. It is practically feasible to repay an affordable instalment.
The best part is that the entire communication is conducted online adding more comfort and ease to the consumer. You can share your concerns without any hassles and they would help you at each stage of loan processing.

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The author is an ex Credit Manager and passionate about helping people struggling with bad credit profile. During her 10 years long stint in the FinTech industry she has helped hundreds of families devastated by bad debts. She loves to write blogs and articles on short term and long term bad credit solutions. Currently she is working on her eBook on unemployed Loans. Visit :-

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