Cash Advance for Unemployed People

I have been unemployed for several months. I have pretty much run down my savings and have had to resort to borrowing money in order to pay the bills. For the unemployed, getting a cash advance is pretty hard. Without a job, most lenders are not willing to front you any money. They would consider you to be too risky. Of course, if you have good credit, it could help you to get a loan.

I began searching for ways in which I could get a loan. One way to get cash advance for unemployed people is by first getting unemployment from the government. Once you have a steady income again, you can apply for a payday cash advance. The only issue with this is that your interest rate would probably be higher than a long term loan. These loans are usually for 30 days and you could easily pay 20 to 30 dollars for every 100 dollars borrowed.

Another way that I found to get money is by going to the pawn shop. These pawn shops will take collateral in exchange for cash. Usually, the pawn shops give 50 percent in cash the value of the item you are putting up for collateral. You can usually put up items like jewelry, electronics, and just about anything that has value. Later on, when you pay back the loan, you can get your item back.

I finally decided to go to a pawn shop and put my flat screen TV up for collateral. I was able to get 500 dollars for it. Now I can use the money to pay bills and buy food.

Cash advances are good for when you need a quick fix to something like repairing your car when it breaks down. Generally it is not a good idea to take out these types of loans unless you are in a real emergency because they have pretty high interest rates. Also, you should not take out these loans unless you are sure you can pay it back.