Single mothers loans and financial assistance is available if you have bad credit and financial hardship. It’s hard to find finance when you are divorced, separated or widowed. You need money to support your families or yourself.
You may find that you have been left with very little financial support. Especially in the event of an unanticipated death of your spouse. Which can amount to a lot of stress. Similarly, if you have recently ended a marriage the legal system does not always facilitate things well. So that you can be left with hardly any maintenance money for your children. In some instances, no money at all.
Read More: 4 Ways to Get Out of Debt Fast
It is not always easy to borrow money. But now many banks allow you to apply for assistance in these troubled times.
Single Mothers Loans Applications
If you would like to apply for single mothers loans and financial assistance then there are several steps you can take. In an attempt to make your application go smoothly.
Firstly, write a statement detailing the circumstances that have resulted in your need to borrow money. Whether it is because you have recently separated and only need a small amount to get you through while you adjust to single living. Or because you are unexpectedly widowed and simply had not budgeted to be supporting your family on your own. Or because you have recently become divorced.
These details as well as information about your credit history, current earnings and all costs related to your children will assist the banks determine the amount of finance they are able to give you.
The South African constitution makes provisions to look after the females in South Africa. Whether it is through provision of land, access to education or access to financial services.
If you have any difficulty accessing loans then perhaps seek legal assistance.
Financial Assistance for Single Mothers
There is financial assistance for single mothers that proves to be very useful at the best of times.
There is help out there when it comes to coping with the finance your little ones demand so unintentionally.
You may have more than one job. However this is still not always enough and you have to borrow money from somewhere else to get through the month.
Making loans from banks is always an option. But you will have to check on their interest rate before you decide to apply for a loan. Make sure it is not too high.
Being a single Mother is hard and not all divorced or separated Women receive maintenance. However there is additional financial assistance for single mothers out there.
Some women will know the feeling all too well. You constantly have to borrow money. And as much as you hate asking, your child/children have needs.
All banks offer assistance in the finance department. No matter the size of the loan you require, speak to someone at the bank. Apply for a loan if everything is up to your standards.
Grieving the loss of your soul-mate, looking after your kids and having financial problems all at the same time is unbearable. But there are many women that go through this. You will be fine in the end and your children will turn out to be fantastic when they’re older.
Getting loans all the time isn’t a good choice. Especially if you are blacklisted with bad credit. Also see if you’re entitled to an unemployment grant while you are not working.
Whatever you do, don’t give up. There is assistance for single mothers that will help you get through financial hardship.