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by Edwin Mwai|2012
Unemployment without a doubt ranks among the worst phases in the life of an individual. Frustrations are rife from able candidates who have attained a good education from a reputable institution but cannot secure employment opportunities. When the opportunities are available, one can barely make ends meet and one is left living hand to mouth. The unemployed or underemployed lack the financial clout to cater for their family’s and/or their most basic needs, as the case may be.
There is financial aid for the unemployed single mothers which seeks to ensure that there is money for taking care of the house hold in general as well as educate their kids, specifically. Most developed nations of the North provide financial aid for the unemployed, but many people know little or nothing about this opportunity at financial bliss.
Getting Financial Aid for the Unemployed
One form of financial aid for unemployed can come as a secured loan that has been sanctioned by a financial institution or bank. It is good to always remember that in advancing loans, no financial institution, bank or lending institution will give priority to individuals who happen to be unemployed for fear of default. It is relatively easy for individuals with strong bank balances as well as assets to get loans. Before getting a loan, one’s bank accounts are put under careful scrutiny before ones loan proposal is declared as successful. One has the right to pledge ones shares with a financial institution and ask for money if one fulfills the eligibility criteria. It is also good to know that one’s previous credit score is taken into consideration before the loan amount is sanctioned. A person with a good credit history as a result of repaying all loans before one became unemployed will stand a greater chance of securing a loan. Appropriate collateral will always be demanded for one to access financial aid for the unemployed.
Requirements to Get Financial Aid for the Unemployed
For an individual to get financial aid for the unemployed, there are a number of things that one needs to do. You should furnish the financial institution, bank or lending institution with a record of your pay slip(s), a properly filled application form, details of the employer, record of past tax payments among others. The lending body will then proceed to verify the authenticity of the document(s) and ability to repay the loan which can be sanctioned even within a few days.
Financial aid for the unemployed can also come in the form of grants from the government. A case is point is the unemployment benefits also known as unemployment insurance which are availed to an individual who has become unemployed, subject to fulfilling a particular set of criteria, till such a time that the individual is able to secure an employment opportunity. There are instances when the government floats schemes for the unemployed people and one should not hesitate to take advantage of these government schemes.
Being unemployed can be the most difficult time of your life. That’s why Unemployment.info was created – to make things a little easier. Whether you need to file for unemployment, need help with your job search, or need information on unemployment benefits, Unemployment Info Center is your one-stop unemployment resource!