Obtaining a loan is, in principle, conditional on the presentation of proof of income. One then wonders if one can contract a loan without providing it. In the case of a personal loan without proof, you can obtain usable funds as you see fit. In this article, we will take stock of the subject.
Personal loan: what is it?
Personal credit has some peculiarities. Also, the personal loan without proof is possible in certain cases.
What are the particularities of a personal loan?
Consumer credit allows you to have financing adapted to the nature and scale of your project, whatever it is. The amount is capped at 75,000 euros. To obtain it, you must present proof of income. This element allows the lending institution to check your creditworthiness and determine your repayment capacity.
Personal credit is one form of consumer credit. It is an unallocated loan. The borrower can spend the amount borrowed without having to justify its use. The funds can be used to finance the purchase of furniture, the repair of a vehicle or life events.
How to benefit from a personal loan without justification?
A fast personal loan without proof means that the beneficiary has the loan without justification of the use of the borrowed amount. However, the principle applicable to consumer loans is that the borrower must provide certain supporting documents.
Among the different types of consumer loans, the personal loan is the only exception to this rule. The only downside is that its cost is higher compared to that of the work loan, for example.
How to apply for personal credit?
The filing of a loan application is followed by the presentation of a complete file containing all the elements required by the lender.
What documents are required?
Like all bank loans, the borrower must create a file containing all the supporting documents required by the bank or the credit organization chosen. In the context of a loan without proof, certain proofs are required. Other documents are required depending on the lending institution.
Thus, the borrower’s file will have to consist of a bank proof, a proof of identity, a proof of address and a proof of income. The latter allows the credit organization to check its solvency and determine its repayment capacity. Some credit institutions do not require it when the amount is less than $3552.
In which case the loan without proof of salary is possible?
This practice is not very popular with banks and credit institutions . Often, it is the stores that provide the borrower with a personal loan without proof of salary. This type of loan generally concerns the purchase of property with a maximum value of $3552.
Not all borrowers are employees. The terms “proof of income” and proof of salary ”differ and should not be confused. It is therefore important to pay attention to the conditions for obtaining your loan, especially in the case of a personal loan without proof of salary.