The bad news is that unemployment is likely to hit 10% this year and not only does unemployment bring the specter of fear into a person's life but it lowers their moral and induces feelings of resentment, anger and neglect and after a prolonged period of unemployment many people sink into despair as their ambitions and hope wane.
Well a little bit of good news is that as the financial crisis has bitten deeper and deeper, the banks have been feeling the pinch too and they understand only too well that the present financial crisis is likely to last for at least another two years.
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So what's a bank to do? Well more and more banks are not only offering cash loans to the unemployed but many are not even asking for any security either and some of these banks are even making loans to unsecured loans to the unemployed that have bad credit ratings.
Why are they offering these unsecured bad credit loans to the unemployed? Well it seems that they're as desperate to make loans as people are to get them! An online loan application can usually be completed via the Internet, approval is fast and because it's a cash loan the money will often be in your bank account within 24 hours.
The loans are not very big but they're large enough to cover expenditures such as your rent, your electricity bill, water supply bill, medical treatment and if you're careful they'll be enough left over to treat yourself and your family to some small forgotten luxury.
Even if you have bad credit already and don't have any real estate to lose you should still try to make regular repayments or you'll be charged late fees. The loan companies know that when they loan to somebody that's unemployed that has bad credit that it won't be easy for them to make payments so the repayment installments are usually very easy and relatively low.
To recap, unsecured bad credit loans for the unemployed are available to those with bad credit; you don't have to put up collateral; the repayment schedule is usually friendly; the money will normally be in your bank within 24 hours of signing up on the Internet.
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