It appears counterintuitive. After all, payday loans are based totally on debtors ensuring compensation of short-term loans by inserting up paychecks as collateral. Nonetheless, it is feasible for unemployed employees to obtain emergency money by way of taking out payday loans for unemployed. Just consider that no longer each and every lender allows payday loans for whatever however paychecks as monetary collateral. I need money today and payday loans represent one of the shortest time period financing techniques on hand for unemployed borrowers. A developing range of payday lenders no longer require profits from a job for payday loan collateral. Many payday lenders have multiplied the collateral requirement to consist of profits sources like pensions, Social Security, and unemployment benefits.