If you are suffering from long-term illness or you are disabled, and you are living on low income there could be times in your life where you feel it is necessary to borrow money. There are a wide range of financial and credit options open to you, and it is imperative that you take a look at all options open to you, understanding the legal obligations and your rights with each, and how it could help you with myriad short-term problems that require a resolution. Whether you choose to take out a payday loan through a responsible lender (as long as you have the ability to pay back the loan at the agreed repayment dates through your employment) or you wish to apply for a government grant, always be fully prepared for all possibilities.
Whichever route you decide to go down to acquire credit it is important to understand that legally, the fact that you are ill or disabled is no impediment to you getting a loan. Traditional high street banks and other lenders, such as responsible payday loan providers, must treat you in the exact same way as they would any other customers. Anti-discrimination rules might apply to you, even if you do not think of yourself as a disabled person.
If you are working with a disability or long-term illness and wish to enquire about a loan, you have several borrowing options. First, take a look at your income and all outgoings and work out whether you can afford to take out a loan and make repayments. From there you have a starting point from which to borrow money, understanding how much you can actually afford to pay out each month as extra, on top of your current expenses. You can choose to seek a loan from a traditional lender, take on an overdraft through your bank, apply for a credit card, or seek a payday loan in these circumstances (with options for bad credit loans if your credit is poor).
If you are on low income and claiming benefits for your disability you can apply for budgeting loans through your local authority. This can help you to pay unexpected or overdue bills, whereas a disabled facilities grant can help you make adaptions to your home in order to make it accessible. The grant is means-tested unless you are applying on behalf of a disabled child under the age of 17. Always first speak to your local authority to see what options are available to you before you seek a loan from an external source.
Always be aware of the finer details relating to any form of credit you take out. Whether through a respectable payday loan provider , a credit card, of a government sanctioned loan or grant to help you make relevant amendments to your home or for other purposes. There are countless ways you can take out credit as a disabled person, but it has to be worth the process and at a price that is affordable and won’t bring further financial difficulties to you in the medium to long-term.