How Can Having No Job Affect My Qualification? - Loans For Unemployed Canada

Posted by Aemina Turner on October 15th, 2021

In case of unemployment, you have no source of income that you ever had. It is very common that your unemployment can definitely have a negative impact on your eligibility for jobless loans.

When your income is low, your debt-income ratio is also going to be affected which may be responsible for the drop in your credit score. This is one of the most important parts of your debt-to-income ratio.

In the end, it may not be possible for you to get guaranteed payday loans with 100% approval in Canada. You may realize that lenders may not be interested in working with you. If there are some lenders who show interest in working with you then you will have to lose your pocket for that.

You must know that whenever you are looking for payday loans with no employment verification. Then you may not get the best deal in terms of a good credit score or income. But you may be able to come out of a financial crunch through loans.