Released on: May 15, 2008, 1:21 pm

Press Release Author: kabir

Industry: Financial

Press Release Summary:
For more information visit http://www.nocreditcheckunsecuredloans.co.uk

Press Release Body: Being on benefits is an unfortunate situation - and to be on
requirement of loans when already on benefits sounds worse. But there are situations
when one does land into such a scenario - it could be a health emergency or any
other requirement that has aroused this need. Such situations warrant a careful
attitude but it does not mean that there is no availability for money or that the
requirement can not be fulfilled.People can be on benefits due to several reasons -
it can be due to less than 16 hours of employment per week or due to bereavement,
disability or support due to some other crisis. The benefits provided are normally
enough to live by, but there could be a sudden requirement which is not fulfilled by
this and there is a shortfall which needs to be bridged with a loan.

Lending options are now available for such people. If such a person is a homeowner
or can arrange for some collateral by a person ready to be a party to the loan,
things are much easier. But normally that is not the case and the loan has to be
procured in an unsecured manner. Since the risk for the lender is quite high in such
cases, the interest rates are normally higher.

People on benefits can receive a budgeting loan, a crisis loan, a tenant loan or
choose among other such options. A budgeting loan is supposed to meet the surge in
day to day requirements of people. A crisis loan is granted to help come out of an
immediate short term emergency. These loans are normally provided by community
centers and are either interest free or low on interest. The problem with these
loans are that these are the amount in case is very low, normally of the order of
£1,000 or less. If such an amount is enough to meet the requirement, it is fine; but
normally this may not be the case.

Even in case the budgeting or crisis loans are not obtained from the community
centers or are insufficient, lending for people on benefits is not a problem. Loans
are available for these people in either a secured or an unsecured manner. Secured
loans are easier to obtain and have a lower interest rate as usual. Tenant loans
have a slightly higher interest rate but if they can bail you out of an unfortunate
situation, it is a great help.

For more information visit http://www.nocreditcheckunsecuredloans.co.uk

Web Site: http://www.nocreditcheckunsecuredloans.co.uk

Contact Details: http://www.nocreditcheckunsecuredloans.co.uk