DSS and DHSS Loans
If you are unemployed, on DSS and claiming benefits of any sort including receiving housing benefit to pay your rent there may be times when you need a quick loan to pay some unexpected or large bills.
It can be difficult to find anyone to help you but there are loan companies who specialise and can provide the funds you need.
Loan companies that specialise in this area, lending to people who are claiming benefits or are unemployed, can normally lend the money to you in the form of a cash advance direct to you or if you have a bank account it can be transferred directly into your bank.
If you need the funds quickly then these are the sorts of companies you should be looking at but everyone is different and have their own loan terms and conditions which you need to fully familiarise yourself with before proceeding.
They can often get the money to you on the same day as you apply in many cases but if this is not possible, certainly in a short period of time. Receiving the money so quickly is one of the main advantages of applying online in this way.
Generally, the funds can be used for whatever you need them for; so if you need some new clothes for the kids, a holiday, furniture, to make some repairs or pay off some commitments such as your rent or fuel bills the money can be used for any of these.
Believe it or not there are many of these specialist loan companies providing financial services to people claiming benefit or those without a job. They understand your circumstances and you won't be judged badly just because you are claiming benefit, unlike the more traditional banks and finance companies.
These companies are good news for you, as it means you can get much needed money quickly and usually with minimum form filling as with this basic information they can quickly check your status through their computer systems with various credit score companies like Experian or Equifax who have information like this on just about everyone who draws breath!
Normally applied for online, your application can often be processed in a few minutes.
You will need certain information when you apply, which will vary depending on the company you apply to, so make sure you read the on-line form properly as if you miss anything out it will delay your successful application.
Once you've had a good look at what loans are available and found one suitable for yourself, the best thing to do is apply for it and make sure you keep screen copies of all the forms you fill in for future reference.
Once your application has been approved, which is usually immediately online, the money can reach your account or be delivered to your door in cash within 24 hours as we mentioned previously. You will normally receive an email with the details of the loan you have taken out including the amount, the length of time to repay, what the instalments are, how much you will pay back and what the interest rates are.
Some loans may take a little longer to reach you. If getting the money really quickly is important and your main priority you need to check for this when you apply.
The length (term) of the loan agreement can vary from as little as one week to years so make sure you understand the commitment you are making as paying off the debt early may incur additional charges and these can be quite expensive.
Your cash loan is often repaid in weekly or monthly instalments to the lender which means that you need to plan ahead and budget for this money each time it is due.
We advise everyone to read the small print before applying.
We strongly recommend that as well as just reading the small print you consider taking some sort of financial advice before signing up to any loan.