It can be difficult to get a loan when you are on benefits, and the process can seem even more complicated if you do not qualify for one. Even though the government provides a relatively predictable income, your income may be considerably lower than that of those who are employed.Learn more about 300 loans, visit pixieloans.co.uk
Can I Get A Loan If I Am On Benefits?
You may be able to obtain a loan if you receive benefits.
Some lenders are willing to accept certain benefits as a regular source of income in some circumstances. Loans may be available to benefit recipients, depending on a variety of additional factors. Those on long-term benefits, such as Disability Living Allowance, will likely receive a different type of 300 loans than those on short-term or temporary benefits, and different lenders will be able to accommodate these different types of borrowing.
Is It Possible For Me To Apply For A Loan Using My Benefits?
In a similar way to those who receive regular income from employment, benefit recipients can apply for a loan. It may be necessary to provide additional information about the types of benefits you receive, along with your total monthly income and normal expenses, but the process is simple and stress-free.
We work with lenders that consider applicants of a variety of backgrounds, including benefit recipients, as a reputable credit broker that is authorized and regulated by the Financial Conduct Authority (FCA). The eligibility checker will let you know if you’re likely to be approved for a loan without requiring a credit check. After that, you can complete our quick and easy application form, which only performs a ‘soft search of your credit file to help us determine which lender is most likely to lend to you.
Does Disability Living Allowance Qualify For A Loan?
Anyone over the age of 16 will receive the Personal Independence Payment (PIP) instead of the Disability Living Allowance (DLA). PIP is for those with long-term illness or disabilities, and the amount you receive each week depends on how your condition affects you.
Loans may be available to recipients of Personal Independence Payments since lenders consider these payments to be a regular source of income.
Does Disability Living Allowance Qualify For A Loan?
Anyone over the age of 16 will receive the Personal Independence Payment (PIP) instead of the Disability Living Allowance (DLA). PIP is for those with long-term illness or disabilities, and the amount you receive each week depends on how your condition affects you.
Loans may be available to recipients of Personal Independence Payments since lenders consider these payments to be a regular source of income.
Can I Borrow A Certain Amount?
You can borrow from Little Loans between £100 and £10,000. Depending on your financial circumstances and your ability to repay the loan, you may be able to borrow a certain amount.
You can check your loan eligibility here to see if you will be approved by one of our lender partners. You will learn whether you stand a chance of getting approved without damaging your credit score, and it will have no effect on your credit score.
