No Fear of Missed Repayments with PPI on Loan for Unemployed

Creating a historical moment, Loan Palace today announced the initiation of insurance of monthly instalment in the loan for unemployed. This is a new feature that is now going to accompany all the financial products designed for the jobless fund seekers. This new feature will be known as the Payment Protection Insurance (PPI) and it will cover monthly instalments of the borrower, in case he fails to make his repayments. Best part is, there are no extra charges for this facility. The concern of the borrowers is the key focus to decide the tenure of the insurance policy. The waiting period will be 60 to 90 days. During this time, the borrowers will make repayments on their own and after that, they can start availing the benefits of PPI.

Missed repayments are the major issue for the jobless people. Due to the scarcity of money and numberless financial obligations, they fail to pay monthly instalments. This cause them slip into bad credit situations and some may even face worst credit scores. This landmark step taken by the company has removed all the fears of jobless people for missed repayments. This feature has also been extended to the borrowers of the loans for the unemployed on benefits.

Conall Garrick, the CEO at Loan Palace says – ‘From a long time we were on designing some effective solution to protect the unemployed borrowers from the stress of missed repayments. With Payment Protection Insurance, Loan Palace wants to support the financial goals of those who are struggling on the double front of joblessness and cash crisis. We want them stay stress-free and enjoy the financial liberty even when they have no jobs. To facilitate flexible funding we are already providing obligation-free assistance through the loans without guarantor. Now after the introduction of PPI, borrowing has become more fruitful and workable for the people with no regular income.’

About Loan Palace

Loan Palace is a renowned FinTech player with a vastness of specialised short-term and long-term loans. The company runs on the motto of ‘funding for all’ and to materialise this motto facilitates flexible funding. Loans are given without any compulsion of obligations and no constraint on credit scores and employment status. The deals that are offered are subject to customisation and the applicant can always expect the deal in his favour. Special concern while offering a loan deal in given to the repayment capacity of the applicant, as serving unaffordable deals is not in the culture of Loan Palace.

Source Url:  https://www.feedsfloor.com/financial-services/no-fear-missed-repayments-ppi-loan-unemployed

No Job? No Worry, Go for Unemployed Loan

Any person, who has the sole responsibility of running his family, would like to have a continuous employment. Having a government job means no major financial problem but for the private employees, the days of unemployment can come in any phase of their life. Such bad days affect our life badly because we struggle to make our ends meet and thus, we remain short of money. Nevertheless, to come out from such difficult monetary situation, assistance is there for these people in the form of unemployed loan.

It is a kind of financial assistance where an unemployed individual can ask for some money from a professional loan company. There are many credit lending agencies offering such loans on competitive interest rates.

Like any other kind of loan, loans for unemployed also have some specifications. They can be occupied for both long term and short term basis. If you want a long term monetary solution, then go for long term loans for unemployed It is certainly beneficial because the interest rates in such case are lower than the short term loans for unemployed. In addition to this, asking for the loan of smaller duration means you should be ready to pay higher interest rates. The proper examination of interest rates is very essential because it can determine your repayment options.

Unemployed loans have become one of the primary concerns of millions of people around in the UK. These special loans are very special and more importantly meant to serve your needs, which obviously is to provide you quick financing. If you are seriously searching for the unemployed loans, make sure you heed to the following suggestions:

• Do not be in a hurry to search for the credit lender. There are hundreds of credit lenders around, in the street, and not many of them would give preferences to your means. It is a smart idea if you search for the credit lender, which is easy to gel with, and more importantly provides you with great offers on lending.
• Give yourself some time while you are searching for the unemployed loans. You just cannot think of a particular credit lender and then take a leaping jump asking him for the loan, just because you are already out of the job.
• Don’t just pop up on a decision. This will not help you out in any way. Your decision for the loan should always be matching with your aspirations. It is you who require the loan, and nobody else. If your financial needs are not fulfilled, the whole idea of lending will not make any sense to you .
• Shop and compare as much as you can. It is going to bring you credible lending experience.

Make sure you keep the above points noted. Give them your high priority. And also keep in your mind that you have the necessity of loans. The whole idea is to make your life balanced and financially strong. After all unemployed loans are meant only for this purpose.