Get FEEA Application for Emergency Assistance

Hardship loans are financial products designed specifically to assist individuals facing challenging circumstances. These loans can offer vital financial assistance to people and businesses facing difficult circumstances.

There are often two main reasons for financial hardship : 1. You could afford the loan when it was obtained but a change of circumstances has meant you can no longer afford the repayments; or 2. You could not afford to repay the loan when it was obtained. If this is the case, get legal advice immediately.

FEEA checks your credit as part of the loan approval process.

Best Hardship Loans For Bad Credit Of 2023 COMPANYUpgradeForbes Advisor Rating4.0MINIMUM CREDIT SCORE580APR RANGE8.49% to 35.99%LOAN AMOUNTS$1,000 to $50,0001 more row • Sep 29, 2023

The act itself of signing up for a hardship plan has no effect on your credit. However, once you enroll, your credit scores could be indirectly affected because of the way the program works. First, your credit card issuer may put a note on your credit reports regarding your participation in its hardship plan.

Secured loans tend to have less stringent requirements and more favorable terms because the lender can take your collateral if you miss your loan payments. Some of the easiest loans to get in this category include auto title loans and pawnshop loans, but these also tend to be relatively expensive loans.

FEEA offers eligible federal employees confidential, no-interest loans to help them bridge their financial gaps in times of emergency. FEEA has given over 13,000 no-fee, no-interest loans since 1986, to help feds make ends meet during personal tragedies like illness, death of a loved one, or a house fire.

You can only make one withdrawal from your super due to severe financial hardship in any 12-month period.