Recipients of Social Security benefits now have access to low-rate Social Security payday loans. Whether you are on SSI, social assistance, or Social Security, you can get an average of $350 to $500 in your checking account by the end of the week. Faster service and guaranteed approval are available for those who qualify.
In the United States, the Social Security Administration gives out an average of $1,177 per month. Since most Social Security payday loans require a monthly gross income of at least $800 to $1000, this paycheck is more than enough to qualify for a short-term loan. Seniors, disabled individuals, and early retirees can all get cash for medical bills, auto repairs, travel plans, late bills, and unexpected expenses.
The actual amount of your loan depends on the state where you live and your history of repaying cash advances with the selected lender and other companies. You may receive up to $1500. To qualify for this program, you must be a legal resident of the United States who is 18 years old or older. You must also have an active checking or savings account, checking preferred.
Most lenders do not conduct credit checks, so bad credit is ok. Use Social Security payday loans responsibly and only take out as much as you can afford. These temporary loans typically must be paid back within one month. They charge $10 to $25 for every $100 borrowed.
Source: Average monthly Social Security benefit for a retired worker, U.S. Social Security Administration, 2011. Data used to determine eligibility for fast Social Security payday loans.