Can I get a loan if I am not in employment?

Answers

• Most loan companies make a check to ensure that you can afford the loan and this takes into account the last 3-6 months’ income. However, this income doesn’t have to be from a job, it can be from benefits or other sources of money such as an allowance. Not being in employment may make it more difficult to get the loan. This is because the company needs to know you can pay back the money and if you only have a limited source of income then this could be difficult to show and may result in a decline of the loan. If you have no steady source of income from any means that you can show the loan company, it is unlikely they will give you a loan.
  By Cred24, 2014-08-23 01:58:15