People who are suffering from any kind of physical or mental disability and
are living on the benefits of Department of Social Security for some time ( DSS
Benefits means certain amount of monetary help from government), can avail this
special lending scheme called ‘loan for disabled people’. At times, it becomes
difficult for such handicapped people to earn enough cash to meet their urgent
day to day needs. They are provided some financial aid from department of
social security which is generally small amount and may not be adequate to make
their both ends meet. However those who are entitled for DSS aid, become
eligible for these special lending programs. Disabilities such as physical
handicap, cerebral palsy, blindness or deafness, limb loss due to accident or
ailment, learning disability etc. come under this category.
These are short term loans and the dealing amount is small which has to be paid
back easily. The loan amount varies between £50 and £1500 with repayment
duration of two weeks to 31 days. People with poor credit performance can also
apply for this loan but they are charged slightly higher interest rates.
These are which do not involve any collateral, co- applicant, bank or credit
card statements etc. and like other short term, high risk loans, the interest
rates in these loans are also high as compared to conventional loans. Proper
and timely repayment of loan for all borrowers is important to avoid financial
complications such as penalties etc. The loan approval procedure is swift and
hassle free without involving any documentation, verification or assessment
The loan seeker has to fulfill following mandatory conditions prior to applying
for this loan:
* He should be a permanent resident of UK.
* His age should be 18 years or plus.
* He should have a valid social security number.
* He should be on the benefits of DSS for at least six months.
* He should have a valid, operative checking account in UK and his savings
should be above £500. He has to prove his repayment capacity.
A post dated cheque of lending amount with interest and lender’s fees added to
it is held as security.
The online lenders provide round the clock customer support such as for satisfying
their queries, providing quotes and filling up application form etc. They only
verify the particulars entered in application and after that the loan is
granted instantly. To grab the loan with most competitive interest rate, the
borrowers must study a number of lenders’ offers available online.
Melissa Mia is advisor of Cheap Loans for People on Benefits.For any , visit