Brazilian immigrants to the US can benefit from help in handling financial issues. First of all, immigrants from Brazil need to legalize their status in America. Once you have the status of a citizen or permanent US resident, you will find it easier to access various loans. Governmental programs can provide you with grants for tuition and living expenses.
Government Loans
The first place to seek help is from the government. There are government loans designed for immigrants who have just settled in the US. You need proof of identity and residence to qualify. Some programs do require you first to get US citizenship or permanent residence. For that reason, it is essential to check the requirements before applying. If you check out on all counts, you could get loans of up to $10,000 or even more.
Personal loans
It’s relatively easy to apply for a personal loan when you have a good credit score. It may be more challenging to do that as an immigrant because you lack a credit history. Even so, you can find lenders willing to work with you. Your rates may be higher, or you may need collateral or a cosigner. Finding such lenders is not impossible. Banks and credit unions have convenient rates and flexible repayment plans. They can make you an offer based on your income and current employment status. On top of that, meeting all the application requirements is mandatory.
Installment loans
Another form of financial assistance is an installment. Anyone who enjoys the privilege of US citizenship and thus has a US passport or a permanent residency status can apply for an installment loan. The maximum amount of $5,000 these financial products offer can help you sort out a financial issue. The repayment terms on such loans are extended over several months. Otherwise said, a borrower must repay their lender every month. The fixed amount makes such loans predictable.
Payday loans
If government-backed loans are not a solution for you, payday advances can serve your short-term goals. These cash options can offer you up to $1,000 in cash until you get your next paycheck. Two to four weeks are usually enough to handle a small financial emergency and return the debt. Payday loans are easier to qualify for, and the requirements list is much shorter than personal loans. Moreover, direct lenders do not inquire about how exactly you intend to use the financial resources you apply for.
Moving to a new country can be challenging. However, as soon as you sort out your legal status and have a steady source of income, you open up new opportunities in terms of financial assistance. Take advantage of the possibilities you have as an immigrant.
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