Personal Credit Without Proof of Income: What You Need to Know
As its name indicates, that says personal credit without proof of income said loan granted without the debtor having to present supporting documents relating to his salary. This is one of the most popular credits, since it is easy to subscribe.
How does it work?
In principle, before agreeing to a request for credit from his client, he must first ensure that his debtor has the financial capacity to repay it. This is when the proof of income will play a very important role, as it will provide proof of a stable financial situation, suitable for repayment. However, this will not be the case for the personal loan without proof. It is a loan whose amount of credit will not exceed 3000 euros. In this case, it is highly likely that a proof of income is not required to subscribe to it. It is important for the borrower to be well informed with many financial institutions, to find the rare pearl. Online institutions are often more likely to provide a personal loan without proof of income.
In addition, it will be expected that the required interest rates will be quite high, given the risk that the lending institution will run.
Why subscribe to a personal credit without proof?
First of all, it should be known that the unsupported personal credit belongs to the family of unrestricted credits, which means that the borrower will be perfectly free in the use of the funds that will be granted. It can then be used to finance purchases, family events, a trip or any other project such as work or development. This unsupported credit, as opposed to the consumer credit affected, does not bind the borrower, who can use the sum as he wishes, without having to submit a purchase order, the promise to sell or any other proof of his expense.
Then, it should also be noted that the procedure for subscribing to a personal credit without proof is very fast. Requests are usually processed in just a few hours, and the institution may even reach agreement in principle immediately when the request is submitted.
How to subscribe to a personal credit without proof?
The principle is as follows, when taking the decision to subscribe to a credit: it must provide supporting documents, including a copy of the identity card of the borrower, a proof of address, his bank account number and a proof of income, which can be either a pay slip, a statement of pension funds or a balance sheet. These coins are expressly required by law, which obliges the debtor to provide proof of his solvency. The personal credit without proof will be limited to the sum of 75,000 euros and the amount granted in practice will essentially depend on the repayment capacity of the debtor.