The econmy is still in crisis after two years, and it has spread to a global problem. There are only some countries that are thriving, and in others the rates of unemployment have increased exponentially. Large businesses have had to let thousands of people go, and there still is a risk for anyone to lose their jobs even if they are performing well in their job. Because the rate of unemployment has increased, there is a large group of people who don't have too much money to spend and that has lead to a lot of companies using this chance by offering loans for the unemployed people that are in great need for money.
There are great risks in these types of loans both for the lender and the borrower - there is a chance that the lender will never see the money that they lend, and the borrower will not be able to pay back, and ending up bankrupt with debt that will last for years even if they do get a job. Even so there are a lot of people who want to take advantage of these high interest loans, and there are companies that are willing to take the risk because of the high profit rate. Unsecured loans have high interest rates, and unemployed loans have even higher interest rates - this reflects the risk that there is.
If you don't have a really bad emergency, chances are that you don't need the loan in the first place, but you might get along with good negotiation skills and financial planning. Lets face it - most of the companies that send you bills would rather see you pay the bills than never see their money even after expensive debt collection.
Understand your situation and act soon
First of all you should really be real with yourself and understand the problems that you have with your finances. The earlier you contact the company that sent you the bill that you think you can't pay, the better are the chances that you will get some flexibility in the terms. Cutting back on your costs is something that you will most likely have to do pretty soon, if you don't want to apply for loans for unemployed - this is something that might get you through the tough times.
Try to find any source of income that you can
People don't usually realize what their posessions are worth, and that there are people who want to buy used items with a decent price. So if you have more than one TV set or computers, chances are that you can sell them on eBay or even at a yard sale. Usually you can get a good price if the item is in good condition, and a few hundred bucks can save you from going bankrupt or paying huge interests on your bills. You would be surprised how long you can go on a few hundred bucks if pinch every penny that you can.
The one thing that you need is imagination
People tend to try to get the easiest way out of problems, without thinking about the future. Applying for a loan might be a simple process, but paying the money back can be a pain in the derriere. You don't want to borrow money if you don't have a sufficient income to be able to pay it back - which you rarely have when you are unemployed.
