DSS Benefits: Finance for the People Living on DSS Benefits
DSS Benefits: Finance for the People Living on DSS Benefits
There is a huge population of poor men and women in United Kingdom. They are to depend on their low income, and many of them may not have any income. How they do meet their inevitable financial demands is a mystery. The financial market has introduced DSS Benefits for this kind of unemployed and underemployed people. These people have their sons and daughters who should go to schools for education. How do they pay their education? How will they clear the medical bill if they are sick? They are to pay off their electric or telephone bills. DSS Benefits act as a form of financial support for this people.
The borrowers can avail the DSS Benefits which are similar to loans in the unsecured variant. A few advantages of this kind of financial assistance are the following:
a) These men and women do not have regular income. Naturally, they borrow from several sources and fail to clear the loan amount. This is to mean that they mess up their credit status. The lenders, still, advance them loans towards DSS Benefits, and the lenders do not check credit status of these borrowers.
b) Usually, the lenders ask the loan-seekers to fax their personal details with evidential documents so that they can assess if the loan-seekers are worthy of securing any loan amount. The lenders approve application for the DSS Benefits without asking the applicants to fax their personal information.
c) DSS Benefits are not like the loans advanced in the secured form. The borrowers are not asked to provide any tangible assets as a guarantee.
DSS Benefits are similar to short loans. The borrower gets an amount in the range from 100 to 1500 towards DSS Benefits. There is similarity with short term loan, because the borrowers are asked to clear the loan amount within two to four weeks. The rates of interest are also higher than usual.
The applicants must fulfill some criteria to be eligible for DSS Benefits. The borrowers must be over 18 and they must be citizens of England. They must have a savings book with 500 in it.