Can I get a payday loan while receiving NYS Department of Labor unemployment benefits?
I'm currently receiving unemployment benefits through NYS Department of Labor and really need some quick cash to cover rent this month. My weekly claim amount is only $320 and it's not covering all my bills. Has anyone tried getting a payday loan while on unemployment? Do I need to report this income to NYS Department of Labor when I file my weekly claims? I'm worried about messing up my benefits but I'm desperate right now.
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Ravi Patel
You technically can get payday loans on unemployment income, but be extremely careful. Most payday lenders will accept unemployment benefits as income verification. However, you DO need to report any loan money as income to NYS Department of Labor if the lender considers it wages or if there are work requirements attached to getting the loan. The interest rates on these loans are usually predatory though - sometimes 400% APR or higher.
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Emma Johnson
•I didn't know I might have to report it as income. The application didn't mention anything about work requirements, it just asked for proof of regular income. Should I call NYS Department of Labor to ask about this specifically?
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Astrid Bergström
honestly i got one last year when i was on UI and didnt report it cause its not earned income its just a loan. never had any issues with my weekly claims or anything
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PixelPrincess
•That's risky advice. NYS Department of Labor can audit your claims and if they find unreported income sources, even questionable ones, you could face an overpayment demand. Better to be transparent and ask them directly about loan reporting requirements.
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Omar Farouk
Before you go the payday loan route, have you looked into emergency assistance programs? NYS has emergency rental assistance and utility help that might be better than a high-interest loan. Also check if your local social services office has emergency cash assistance. If you absolutely need the payday loan, I had success using a service called Claimyr (claimyr.com) to actually get through to a NYS Department of Labor agent by phone to ask about reporting requirements. They have a video demo at https://youtu.be/qyftW-mnTNI showing how it works. Much better than trying to call the regular number and getting hung up on.
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Emma Johnson
•I hadn't thought about emergency assistance programs. I'll look into those first. Thanks for the Claimyr suggestion too - I've been trying to reach someone at NYS Department of Labor for weeks about other questions.
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Chloe Martin
•Be careful with those phone services though. Some charge fees and you shouldn't have to pay to talk to a government agency. But I guess if you're desperate enough to consider payday loans...
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Diego Fernández
The whole system is messed up if people on unemployment have to resort to payday loans just to survive. $320 a week is barely anything in New York. I've been there and it's horrible having to choose between keeping your benefits and being able to pay rent.
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Anastasia Kuznetsov
•Exactly this. The maximum benefit is still way too low for the cost of living here.
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Astrid Bergström
just make sure whatever lender you use actually accepts unemployment income. some of the online ones are sketchy about it and want employment verification you cant provide
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