Join our list Challenges a Single Parent Faces Single parenthood can be very overwhelming and stressful at times because you have to raise your kids on your own, without your partner.
Understand the qualification process see what lenders look for.
Get genuine money assistance options if qualifying for a loan is not a possibility. But if you are a single parent, it might be even more difficult for you to get assistance when you are spending most of your money trying to raise your children. If you are a single parent and want to apply for a loan, be warned that there are some pre-conditions that should be met.
Most banks and other lending institutions will consider your loan application for a personal loan, only if you have been permanently employed for a minimum of 12 months prior to the application date. This rule might be relaxed if you receive a substantial private income or child support or alimony.
Compare Single Parent Loan Options When considering any type of loan it is important to review all options thoroughly.
Engaging with the wrong lender can worsen your financial situation. Below are some tips on how to avoid bad lenders. To find the best single parent loans available, combine your search efforts with multiple sources.
Quick view — See loan and benefit options for specific circumstances here. Below are multiple loan and money assistance programs for Single Parents Specialist Lenders: The Australian government has set up a number of welfare schemes to take care of its citizens, and one such initiative is the Keystart Home loan, provided by the Western Australian government.
What it essentially means is that the Department of Housing also signs on when the low income earner signs on for a home loan. This specific loan is available for single parents too, apart from people with disabilities, Aboriginals and public housing tenants, for moving on in life.
Other States and Territories have similar programs. There are multiple types of benefits and loans provided to single parents and qualification depends on situation. Different schemes include help with education, general living, business and housing loans or rental assistance.
In addition to benefits there are multiple grants available. Below are a few examples.ABOUT HELP FSC. From 1 January , HELP FSC has been appointed by the Ministry of Social and Family Development (MSF) as a Divorce Support Specialist Agency (DSSA).
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Emergency financial assistance helps single-parent families dealing with cash shortages, bouts of unemployment, homelessness, and other temporary hardships. Government grants programs may help with college costs, and personal needs such as car repair, dental work, and paying off debt. But, whether you are ready to walk away and start again or not, help and support can be found.
If you have chosen to stay (either as a short or long term choice) or if you are ready to leave, there are people and organisations that can advise and support you. Chances are, your friends and family want to see you succeed and would be willing to help in some way.
This might be by helping you get through a temporary financial setback like having to pay for unexpected car or home repairs or by helping to take care of your kids while you take on a .
The government has financial help programs to help single mothers live a better life by helping to cover rent and most utility bills. There are grants to even help with credit card debt, so you can have the extra money to spend on your children. Parent Information: If the parents are divorced, list only the income and assets for the custodial parent in the parent information section. If the custodial parent has remarried, however, also include the financial information for the stepparent. ABOUT HELP FSC. From 1 January , HELP FSC has been appointed by the Ministry of Social and Family Development (MSF) as a Divorce Support Specialist Agency (DSSA).
As a parent, being savvy with helpful tech, picking safe activities, and planning fun celebrations can make daily life easier. Explore ways to do so here.