Payday Loans for People on Disability Benefits
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What Is a Disability Payday Loan?
Dealing with a disability and finding a way to make ends meet is not a walk in the park. If it isn’t the stigma that’s preventing you from finding a job, then it could be the actual inability to perform to expectations. Accessing a hassle-free loan to cover stretching expenses and growing bills while dealing with a disability can add to its already piling challenges.
Although loans are available at banks for people with a disability, the wait can be long and the process cumbersome. We have another option for you – disability payday loans.
What exactly are they?
Disability payday loans are a speedy solution for special-needs individuals to cover their expenses. There are payday loans for people on disability benefits that could amount to $1000 depending on your credit history. Such loans can also be helpful while you’re waiting for the SSI to review and approve your application for the disability status, as the process can be quite long.
What types of disability loans exist?
You may qualify for any of the following types of disability loans:
If your credit score isn’t ideal, this one allows you to receive between $100 and $1000
With a fair credit score, you could qualify for a loan between $1000 and $5000
We have developed a quick and easy process to find such loans, designed to ease the pain of having to directly ask others for financial assistance. It is confidential, online-based, and allows you to see how much you qualify for before committing to the loan.
Benefits of getting a disability loan
Online payday loans that accept a disability income proof can be useful to cover not just everyday necessities, but also to:
meet emergency medical expenses
purchase additional household items
cover travel expenses
have some extra cash on hand for repairs or groceries
With a reduced government allowance for disability, there may be additional situations when social security disability-based payday loans can be a much-needed savior.
Social Security Disability Payday Loans: Do You Qualify?
The increasing expenses in today’s day and age have led most individuals, and especially those with incapacitating or chronic disabilities, to struggle to get through the month and meet even their most basic needs. The government provides financial aid to people with disability in the form of Social Security Disability Income or Supplemental Security Income (SSI), but this is insufficient in most cases.
Not everyone with a disability qualifies for social security benefits. But the good news is that you may qualify for payday loans, even with a social security disability income or SSI.
If you can provide the following requirements, then you can start filling out our online form and get connected to a lender:
- Details of an active bank account
- Proof of regular income
- Social security number
- Age of 18 or older
You do not need a line of credit; you may obtain disability payday loans with an SSI debit card alone. You also do not need to upload any documents before viewing your loan offer.
How to Get Payday Loans with SSI debit card?
With the above conditions met, you can go for SSI-based payday loans in three steps:
- Fill out our quick form
- Get redirected to a vetted lender’s page where you can review their offer, as well as terms and conditions
- Click “Accept” if you agree with the loan terms. If not, you may restart the process from step 1 above.
As an SSI or disability benefits recipient, you may have the option of getting a cash advance on your disability payments when paying back the loan. You may discuss all these details directly with the lender.
Disability Loan Consolidation
Payday loans are a convenient way to get some quick cash but you should always have a plan to pay the money back. However, if you do happen to falter on a payment or cannot follow through with your plan anymore, you could consider loan consolidation. This means getting another loan to finalize your payments on your already outstanding loan.
SSI disability payday loans are one method to go about this process. But you should ensure that your new payment plan is a more manageable, less expensive one. This way, you have a better chance of finally getting out from underneath that large pile of debt.
Frequently Asked Questions
Can I get a payday loan on disability benefits?
You can easily get a payday loan on disability benefits if you can provide proof of regular supplementary income such as Social Security Disability Income or Supplemental Security Income.
Alternatively, you may provide separate proofs for a regular income and for your disability. Make an online request to find out if you are eligible for payday loans for SSI recipients.
Can payday loans accept your social security income?
Yes, payday loans can be given to individuals with SSI benefits or any other legitimate source of income.
Where to get a payday loan if you’re on disability benefits?
Our tool is your answer to access a network of lenders who are willing to give a payday loan if you are on disability benefits. Get started with just a few quick clicks.
What happens if you fail to pay a payday loan (including one for disability)?
Failing to pay off a loan on time can result in your case being sent to a collections agency. It’s always better for you to inform your lender in advance in case you may be able to work out an alternate plan. Late payments and loan defaults may adversely affect your credit and may make it difficult to obtain future personal loans. So make sure you set up a proper plan from the beginning.
How do you get the loan when you are on disability?
Once you fill out our easy and quick online form, we’ll connect you with a lender who can provide you with all the relevant details. Most often, the money will be deposited directly in your bank account.