Because of COVID-19 pandemic, a large number of Canadians with disabilities affected. According to CBC, around 22% of the population of the people are those who suffer from a disability. It is a large minority group in Canada.
Disability benefits are a good step taking by the Government of Canada, but did you know that? These benefits are not sufficient to cover all the expenses, especially during emergencies. That’s why people with disabilities are showing interest in payday loans.
What are payday loans on disability?
Payday loans for disability income Canada are designed for the people who are living on welfare or social assistance benefits. If you are enrolled for disability benefits and need extra financial help, you can apply for it.
Your qualification for loans on disability benefits depends upon the disability payments that you showing as a regular source of income. Disability benefits help disabled people to manage their finances, but they are not sufficient for unexpected financial woes.
It is a general fact that, if you are living with any type of disability, it is very hard that you can contribute to your savings. And that’s why traditional banks and financial institutions are not interested in approving you for a loan. You are a risky-borrower for them.
In this situation, disability payday loans Canada work like a miracle for you. With this cash advance, you can get a maximum of C$5,000 and it is enough to cover your bills, repairs, and urgent expenses. These benefits are provided by the government, so it is a trusted income to get approval for the payday loans with government benefits.
How to get payday loans on disability benefits?
What keep in mind?
First of all, you need to find out a lender that offers payday loans on disability income. It is important to choose a direct lender that can provide you online loan application as it is crucial for disabled people.
Secondly, make sure that your lender accepts the government benefits as a source of income. Not all lenders in Canada accept disability benefits or other social assistance benefits as a trusted income source for loans.
Whizz, deeply understands the financial problems facing by people with disabilities. Our incorporate lenders help them by accepting all types of social and welfare benefits as a form of income to get short-term loans.
Time to apply!
Disability loans with no credit check are difficult to find out, but being on disability benefits doesn’t mean that you can’t get it. Time is changed now and due to the rise of private lenders in Canada, you can easily apply for loans for people on disability with bad credit.
Online payday loans for people on disability benefits are easy to apply for and are come without collateral. If you receive disability income, you can get a maximum of C$5,000 within few minutes after getting approval.
There is no need to stepping out of the comfort of your home to apply for online payday loans that accept disability. All you need to fill an online application form from your home and the rest will be done by your lender.
Pay back time…
The repayment of payday loans while on disability is the date when you receive your next disability benefits payments. It is the same as other loan repayments, but instead of salary, your government benefits take the place. You need to pay back your loan amount plus interest on the due date to avoid any type of penalty or late fees.
There are some good lenders like we have, who understand the borrower’s pain points of not making the payments on time. They offer more manageable repayment options through installments. It decreases the financial burden from your shoulders and you don’t need to compromise with your budget.
What can payday loans on disability used for?
Have you ever taken a loan for a specific purpose like car loans or home improvement loans? Such types of loans are issued to fulfill a special purpose. For instance, if you apply for a car loan, you need to go through various types of paperwork, or you need to know the exact model, mileage, and car-made year that you wanted to buy.
The common problem with these types of loans is that you have to spend your loan money only for a specific purpose.
On the other hand, the main advantage of payday loans or payday loans that accept disability is that you can use them for any purpose without restrictions. These are faxless payday loans with no additional requirements and non-sense questions. Some of the trending usages of payday loans are:
- Cover your monthly household utility bills, like electricity bills,
- Buying groceries and other domestic items,
- Repair or buying new dish washer or water heater,
- Cover the car repairing costs,
- To pay the bills of urgent home repair,
- To get some extra cash for paying rent,
- Boost your credit scores by paying bills on time and,
- Many other reasons as per your wish.
Conclusion
The real fact is that these payday loans are like a boon for people on disability. Income from disability benefits is not enough to cover all the monthly expenses, especially in emergencies. None of the many other types of government benefits can help them out. So, what’s the solution?
As our economic ups and downs and the recent COVID-19 pandemic make everybody financially stressed. The extra worry is with people with disabilities as to how they can pay bills and urgent expenses?
Don’t worry!! payday loans for disability income in Canada help them by making a financial bridge for them. If any type of urgencies arises between their next disability payments, then these loans keeping them financially strong.
We love to help!!
Are you living on disability benefits? Do you want extra cash? Don’t know where to turn for disability loans? Look no further, Whizz, offer payday loans with disability as income for all provinces including Ontario. You can apply for ODSP Payday Loans, or even get approval for Payday Loans With Government Benefits Canada.Try us now!!