Anna, my 44 year old friend works as a teacher in a private nursery school. When I met her at the laundrette last evening, she seemed very excited about her daughter Carol’s wedding which is coming up next month.

Though Anna is happy about spending her savings on her daughter’s wedding, she is a little worried about her home improvement plans for which she needs extra funds. Especially given that Joe, her husband, has been on income support for a while with Anna having to pay most of the bills. Though they face tough times financially, what I really like about the couple is the fact that they always come up with a solution together.

Though Joe does not have enough funds to contribute, Anna is confident to get help. She is planning to get an low interest loan offered by the gshloans company.

However, there are some criteria to get a loan and I did inform Anna about them:

Such loans are provided for cash needs such as paying for:

• Furniture/household items
• Clothing/footwear
• Travel expenses
• Rent in advance/removal expenses if moving home
• Essential home improvements
• Expenses related to finding a job
• Hire purchase payments

But getting a loan is not as easy as it may seem (read FAQ) and there are several criteria to be met in order to get approved for a payday loan.

The main criterion in order to qualify for payday loan is that, an individual or his/her partner should have received benefits from the following for at least 26 weeks:

• Income-related Employment and Support Allowance
• Income Support
• income-based Jobseeker’s Allowance
Credit History
• Etc.

Payday loans are given for amounts ranging from $100-$1000 depending on the need and eligibility of the applicant and the loan can be repaid back within 12 weeks, since loan approval. The repayments can be done through any valid bank account, postal account, building society account or credit union account, as per applicant’s convenience.

Since the applicant has to pay back only the actual amount borrowed, the competition is usually high for this loan. But the biggest challenge of sush loans is that, these loans are NOT approved based on cash emergencies or medical emergencies 🙁

Anna is confident that her loan will get approved since she meets most of the criteria but the decision lies in the hands of the DWP and I am keeping my fingers crossed for her.

If you are interested in applying for a loans for people with no credit or poor credit and would like to know more about it, contact Jacqueline J. Johnson.