How likely is it for someone with a sole income coming from welfare, unemployment, or alimony to be approved for a loan?
by 
Andy Ninja Is Wicked Back To Work
ANSWERS: 6
-
Usually welfare checks and unemployment checks are seldom enough money to justify any kind of loan if that is your sole source of income. Depending on the situation, alimony as your sole source of income can qualify you for a loan provided that the payments are high enough. Like if you are a woman who divorced a rich man and you are getting alimony payments of $19,000 a month then getting a loan is very likely. On the other hand, with welfare and unemployment, thats barely enough money to survive let alone getting a loan which is very unlikely. Not impossible- Just very unlikely.
-
Unemployment is temporary. Welfare is not considered income. Only alimony is considered income so it would depend on how much alimony one is receiving and the length of time one is receiving it. All this aside given todays market - unlikely to get a loan.
-
disability SS benefits are also counted
-
anything is possible
-
Vito will hook you up. With a heavy vig.
-
-
mushroom It's ironic that when you need a thousand dollars and might not be able to pay it back, you make a shady deal, but when you need a billion dollars and might not be able to pay it back, you're master of the universe. -
Archie Bunker Or when you apply for a college tuition loan for a degree in gender studies specializing in popular culture. A surefire degree that will make you millions in the future. But, the government will be happy to give you the money. And they always get their money back because they have the best debt collectors.
-
-
About as likely as it is you can repay it with that income.
pearllederman 
Linda Joy RELATED QUESTIONS
Copyright 2023, Wired Ivy, LLC