Jobs Find List

Categories


Location

Is Workers' Compensation or Unemployment Considered Income for Getting an Auto Loan?

When you need to borrow money to buy a car, most lenders will require you to have some kind of income before you can qualify. If you are not working, but are instead on unemployment or workers' compensation, you still have a regular income. However, many lenders may be unwilling to work with you when on one of these programs.

Unemployment Benefits

In most cases, unemployment benefits will not be enough to get you qualified for a car loan. With unemployment benefits, you can only receive money from the program for a few weeks or months. For example, you may only be able to get benefits for a maximum of 26 weeks. Since the auto loan will last for several years, most lenders will not be willing to use this as an acceptable form of income for the loan.

Workers' Compensation

Workers' compensation is another type of financial benefit that you could receive if you are injured while on the job. When you receive workers' compensation, you may receive money for medical bills, therapy, lost wages and pain and suffering. If the injury you have is keeping you out of work, but you still have a job, the lender may be willing to count your regular income toward the loan. This is common for those who only have temporary injuries and will be back to work soon.

Out of Work

If you are receiving workers' compensation but you are not still employed with your employer, you may not be able to qualify for a loan. In this case, the workers' compensation benefits will eventually end. At that point, you will no longer have any income coming in, but the car payments would remain. Because of this, the lender will usually look at whether you can go back to work after you heal. It may also take into consideration the severity of your injury and the expected rehab time.

Credit Requirements

If you do find a lender that is willing to allow you to count either one of the sources of income toward your loan, you will not be able to qualify unless you have a solid credit score. Your credit score tells the auto lender what type of borrower you have been previously. Without a good credit score, you most likely will not be approved for an auto loan while on unemployment or workers' compensation.



Tips to Find a Job from Millions of Job Listings Online

Rent an Apartment With No Job & Bad Credit

When the number of foreclosures skyrocketed in the mid and late 2000s, apartment vacancies increased. Families moved out of apartments to live in single family home rentals, and lay-offs increased the number of jobless unable to pay rent. Apartment renters also moved out to take advantage of the fir ...

Jobs for Kids at the Age of 10

The Department of Labor regulates child employment. Rules are in place to protect kids from job-related injuries and working too many hours. As kids move through their teens years, they qualify for more work opportunities. Paying jobs for kids at age 10 are limited, but are legal in some categories ...

Get a Job at Regal Cinemas

The Regal Entertainment Group states that more than 200 million movie-goers frequent more than 500 multi-screen Regal Cinema theaters annually to view a wide genre of movies including action, adventure, romantic comedies and horror. Regal Cinemas employs individuals in a variety of capacities -- fr ...

Examples of Job Evaluations

A job evaluation determines its value relative to other jobs in a company or industry. Ideally, the job description defines the skills and experience required to perform the tasks, regardless of who does the work. You conduct job evaluations for a number of reasons, among them to ensure your employe ...

The Job Description of a Merchant

Products found in retail stores and grocers do not come directly from the manufacturing plant. Many of these products are bought in bulk and are stored with wholesale merchants until the retailers are ready for them. This increases efficiency for businesses and retailers by giving them one location ...

Security Sales Job Description

Sales agents who sell security systems match clients seeking peace of mind with the equipment and services that provide optimal surveillance. This occupation requires people with communication and persuasion skills who also are experts in security equipment and installations.Security Sales Duties S ...

Job Description of an Offshore Process Technician

Offshore process technicians operate machinery used to turn raw materials into finished goods, such as drilled oil used to make fuel for heat and to power automobiles, airplanes and other machines. Unlike their counterparts who work on dry land, the "offshore" in this job title refers to t ...

Catering Assistant Job Description

To become an experienced caterer, some food industry professionals begin their careers as a catering assistant. Catering assistants work in industries ranging from event planning to hospitality, and usually perform tactical and administrative duties that support catering managers and senior caterer ...

Job Description for a Teaching Assistant

Teacher's assistants are often employed by public (and sometimes private) school systems to allow the primary classroom teacher more time to actually plan and teach. The duties of teacher's assistants rely heavily on the direct need of the primary classroom teacher.Work Environment Many teacher's a ...

What Types of Jobs Did Women Have in 1900?

Women had very few rights at the turn of the century. They certainly had no political rights. It was expected that the only skills they should possess were cooking, cleaning and sewing. Also expected was for a female to marry a man at a young age. If she was married, her place was at home. She was t ...

Pricing Analyst Job Description

Pricing analysts are professionals who gather and analyze statistical data to help a company make wise purchasing, manufacturing and sales decisions, according to CareerPlanner.com. Their goal is to help a company improve its structure and efficiency, reduce costs and increase profits. Pricing analy ...

Autoshop Service Managers Job Description

An auto shop service manager is in charge of the operations and personnel at a shop that tests and repairs automotive vehicles. He advises and directs his staff in analyzing and repairing cars and trucks. His job also requires interaction with customers to answer questions and address issues to whic ...

What Are Various Employment Laws Which Affect HR Decisions & Actions?

The human resource department is responsible for compliance of a multitude of employment- and workplace-related laws. Most human resource managers also are responsible for training other key management personnel to ensure these laws are being upheld throughout the company. The most common laws that ...

Employment & Income Verification

Employment verification can involve the confirmation by an employer or a third-party human resources company that someone currently works for or has previously worked for a company. Employment verification can also ascertain someone's eligibility to work. Income verification is when the employer or ...

Pros & Cons of a Nursing Career

Nurses at every level are in high demand, as nearly every health care facility has an acute and chronic shortage of nurses. As a result, nurses' salaries have increased dramatically in recent years. Students who successfully complete nursing education programs are nearly guaranteed to find work.What ...