Having a job is one of the three prerequisites to getting a payday advance, next to being at least 18 years old and having an active checking account. However, most payday lenders prove flexibility and this requirement can be waived. Show that you receive regular income from other sources – like rents or dividends – and the loan can be yours.
Your bad credit won’t matter when you are looking to get a loan without a job. Payday lenders don’t do any credit checks, so you can get your money with the worst score possible. However, if you have no provable source of income, here are other ways you can get money loans with no job.
Option 1: Have somebody ‘vouch’ for you
While payday lenders don’t accept co-signers, you can trick the system. Have a friend or relative sign a legal document saying they will pay you a certain amount each month in exchange for a service like babysitting or cleaning up their house twice a week. You don’t have to cash in that amount, but you can forward the document to a cash advance lender that will accept it as a proven source of income. Of course, you will need to find a close friend or member of your family who trusts you enough to know that you won’t be using that document against them and actually attempt to cash in that amount.
Option 2: Apply for welfare
Depending on how long you have been unemployed and the regulations in your state, as well as the income in your household, you can apply for welfare, which will be a proven source of income.
Option 3: Ask for help from charitable organizations
Some philanthropic organizations offer loans or even non-refundable grants for covering certain expenses. If you cannot meet expenses related to prescription drugs or utilities, you may well try to find charitable venues in your area. Others may offer you season work or even provide you with further tips on how to get a loan with no job.
Option 4: Try to get a secured loan with a co-signer
A lot of banks or credit unions offer sub-prime loans if you pledge collateral against the value of your loan. Of course, this means you need to own some valuable equity – like a car or house – or be legally allowed to place a second mortgage on any of your properties. A co-signer is an absolute must with most, if not all, financial institutions, so you will have to find someone who would agree to make the payments on your behalf, at least until you get a job.
Option 5: Ask for help from friends or family
You should probably seek help from your close friends and relatives before even considering a high interest loan. Explain that you are desperate and nobody gives you loans without a job. You will, however, need to be perfectly frank with them, describe your current situation in detail and give your best estimate on when you can pay them back. Defaulting with a payday lender on a loan of a couple of hundred dollars leads to pecuniary penalties, but lying to your closed ones and paying them back very late can ruin some long-lasting friendships, which is priceless.
All in all, these are the main options you can use to get no job loans.
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